The Delhi High Court on Friday granted bail to Yes Bank founder Rana Kapoor in a money laundering case being probed by the Enforcement Directorate (ED). Kapoor was arrested for allegedly sanctioning a loan of over ₹200 crore to a company owned by HDIL promoters Rakesh and Sarang Wadhawan, when he was Chairman of Yes Bank.
The order was passed by Justice Sudhir Kumar Jain. A detailed copy of the same is awaited. The Central Bureau of Investigation (CBI) has charged Kapoor and Avantha Group promoter Gautam Thapar in the ₹466 crore bank scam in September.
Although Kapoor was not mentioned in the FIR filed last year, it was stated that his involvement in the fraud came to light during the investigation. The trial court had denied him bail after the judge observed that the allegations against him were grave and serious in nature. However, 15 co-accused persons were granted bail. The ED had opposed the plea stating that Kapoor was instrumental in generation of the proceeds of the crime. Rana, on the other hand, claimed that he was not arrested by the agency during the investigation and argued that since the chargesheet was already filed, keeping him in custody was pointless. The trial judge, while rejecting the plea, observed that the 15 co-accused were just “hands” as per the complaint and were only taking instructions from Rana or Thapar as their agents.
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