New Delhi: A Mumbai session court granted bail to the founder and CEO of Yes Bank, Rana Kapoor in a money laundering case related to to the wrongful loss of over ₹ 300 crore to the bank.
A special court under the Prevention of Money Laundering Act (PMLA) granted Mr Kapoor bail on certain standard conditions. He can’t leave the country and the court directed the seizure of his passport. He is also required to attend the court on all dates when the matter is fixed. He also has to submit a provisional surety of ₹ 5 lakh.
Businessman Gautam Thapar and seven others were also granted bail in the case pertaining to the sale of a property at a prime location in Delhi.
Mr Kapoor and Mr Thapar, however, will not be released yet as they are in judicial custody in connection with some other cases.
The present case pertains to the allegations in the sale of a property situated on Amrita Shergill Marg in Delhi to a company owned by Rana Kapoor’s wife, Bindu Kapoor, for which a separate FIR had been registered by the Central Bureau of Investigation (CBI) in Mumbai last year.
Later, the Enforcement Directorate (ED) had filed a money laundering case against Rana Kapoor, Bindu Kapoor, Gautam Thapar and seven others based on the CBI’s FIR.
Advocate Vijay Aggarwal, appearing for Mr Kapoor, argued before the Court that his client has not been arrested by the Enforcement Directorate during investigation in the present matter and as the probe agency has filed the Prosecution Complaint without…
