Meet Rana Kapoor: The Man Behind Yes Bank's Journey indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Kapoor had to face charges in eight cases filed by both the ED and the Central Bureau of Investigation (CBI) which was related to fraud at the Yes Bank.
The property belonging to Avantha Realty Ltd (ARL) was already mortgaged for a loan taken by the company from Yes Bank. It was purchased for Rs 378 crore against the market value of Rs 685 crore by Bliss Abode Private Limited, run by Rana Kapoor s wife Bindu Kapoor, in 2017.
A special CBI court in Mumbai granted bail to Yes Bank founder Rana Kapoor in a fraud case, stating that further incarceration without trial would amount to "pre-trial conviction." Kapoor had been arrested in March 2020 in a money laundering case and was booked in multiple cases related to fraud at Yes Bank. The court noted Kapoor s deep roots in society, his health issues, and the lack of justification for his continued detention. The CBI had alleged that Kapoor obtained "illegal gratification" for sanctioning a loan at Yes Bank.
Bail for Rana Kapoor: Keeping him in jail any further would be 'pre-trial conviction', says court devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.