Yes Bank scam: Delhi HC grants bail to Rana Kapoor in money laundering case

The Rs 466.51-crore money laundering case is being probed by Enforcement Directorate

FPJ Web DeskUpdated: Wednesday, November 30, 2022, 11:59 AM IST
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Former Managing Director and CEO of YES Bank , Rana Kapoor | Image Source: Wikipedia

Delhi High Court grants bail to Former Managing Director and CEO of YES Bank Rana Kapoor in Rs 466.51-crore money laundering case being probed by Enforcement Directorate.

The case is being probed by the Enforcement Directorate (ED).

The Bench of Justice Sudhir Kumar Jain on Friday granted bail to him.

The trial court in October last year, took cognizance of the Enforcement Directorate (ED) Chargesheet (Prosecution Complaint) filed against Avantha group promoter Gautam Thapar involving Yes Bank's Rana Kapoor and several employees in connection with money laundering case.

According to the ED, an ECIR was registered against Gautam Thapar, Avantha Realty Ltd., Oyster Buildwell Pvt. Ltd. and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/ misappropriation of public money during the period 2017 to 2019.

Earlier on September 7, Capital markets regulator SEBI imposed a penalty of ₹2 crore on Rana Kapoor for mis-selling the private sector lender's AT-1 bonds.

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