A Mumbai sessions court on Wednesday granted bail to Yes Bank co-founder Rana Kapoor in a Rs 900 crore money laundering case pertaining to a loan given to the Housing Development and Infrastructure Ltd (HDIL).
However, currently lodged in the Taloja Jail in Raigad, Kapoor will continue to be behind bars as he faces several other cases in the court.
In the present case, the Enforcement Directorate had arrested Kapoor in 2020 under the Prevention of Money Laundering Act (PMLA), alleging that Kapoor, his family members and others got huge bribes for sanctioning massive loans when he was at the helm.
Of the loans of Rs 30,000 crore approved by Yes Bank, advances of Rs 20,000 crore turned into NPAs.
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After his arrest, Kapoor had applied for an interim bail on purported medical grounds but it was rejected.
Earlier, Kapoor was granted bail in other ED cases linked with money laundering, pending in Mumbai and Delhi.
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Mumbai: Arrested Yes Bank founder Rana Kapoor arrives to appear before the Enforcement Directorate (ED) in Mumbai on March 18, 2020. The ED had filed a fresh case of money laundering against Rana Kapoor and his wife Bindu Kapoor for allegedly obtaining Rs 307 crore bribe from a realty firm routed through the purchase of a bungalow in Lutyens' Delhi at half the market price. (Photo: IANS)
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