Tuesday, December 6, 2022

Delhi High Court grants bail to Rana Kapoor in Yes Bank Scam

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In a money laundering case being probed by the Enforcement Directorate (ED), the Delhi High Court has granted bail to Yes Bank founder Rana Kapoor.

The order was given by Justice Sudhir Kumar Jain. A detailed copy of the same will be available soon.

Rana Kapoor and Avantha Group promoter Gautam Thapar were charged by the Central Bureau of Investigation in the ₹466 crore bank scam in September.

Till last year , the name of Rana Kapoor was not mentioned in the FIR but his alleged involvement came to fore during the probe.

The bail was initially denied to Rana Kapoor by the trial court after the judge observed that the allegations against him were grave and serious in nature.

The 15 co-accused persons were granted bail and that became a point of contest.

The plea was opposed by the ED on the ground that Kapoor was instrumental in generation of the proceeds of the crime.

On the other end Rana, on 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, had said that the 15 co-accused were just “hands” as per the complaint and were taking instructions from Rana or Thapar as their agents in getting it all done.

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