Court grants bail to Rana Kapoor in fraud case
The Hindu
Yes Bank founder, however, won't be released from jail as he continues to be an accused in other cases
A special Prevention of Money Laundering Act (PMLA) court on Wednesday granted bail to Yes Bank founder Rana Kapoor in a case related to loss of over ₹300 crore to the bank.
Mr. Kapoor, however, won't be released from the Taloja Central Jail as he continues to be an accused in other cases. The bail conditions include providing a provisional surety of ₹5 lakh, not leaving the country and to attend court hearings when summoned.
The case pertains to the sale of property in New Delhi that belongs to Mr. Kapoor's wife, Bindu. Advocate for Mr. Kapoor contended that his client was not arrested by the Enforcement Directorate (ED) in this case and a prosecution complaint was filed without him in custody. Businessman Gautam Thapar, along with seven others, are also granted bail.
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