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Yes Bank co-founder Rana Kapoor gets bail in bank fraud case; to walk out of jail after 4 years

Kapoor was arrested by ED in March 2020 in a money-laundering case

Yes Bank co-founder Rana Kapoor. File

Mumbai, April 19

A special court here on Friday granted bail to Yes Bank co-founder Rana Kapoor in the Rs 466.51 crore bank fraud case, paving the way for him to walk out of jail after four years.

The Enforcement Directorate (ED) arrested Kapoor in March 2020 in a money-laundering case, and he has been booked in eight cases related to fraud at the bank.

The banker has now secured bail in all the cases.

Kapoor’s lawyer Rahul Agarwal said they were trying to complete the bail formalities to facilitate his release as early as possible.

The court has granted bail to Kapoor in the CBI’s case against him and Avantha Group promoter Gautam Thapar for allegedly indulging in criminal conspiracy, criminal breach of trust, cheating and forgery for diversion of public money to the tune of Rs 466.51 crore.

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#Enforcement Directorate #Mumbai

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