The Mumbai Sessions Court on Wednesday granted bail to Yes Bank Co-founder Rana Kapoor in a Rs 900 crore money laundering in a loan given to Housing Development and Infrastructure Limited (HDIL).
Kapoor is currently lodged in Taloja jail in Navi Mumbai. He has several other cases pending in the court, as a result he would continue to be in jail.
Kapoor was arrested by the ED under the Prevention of Money Laundering Act (PMLA) in 2020.
The ED has accused that Kapoor, his family members and others got benefits worth Rs 4,300 crore through companies controlled by his family as kickbacks for sanctioning huge loans.
According to the ED, loans of Rs 30,000 crore were given by Yes Bank when Kapoor was at its helm, and of these, advances of Rs 20,000 crore turned into bad loans.
Rana Kapoor is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into non-performing assets (NPAs).
In 2020, he had sought interim bail claiming that his prevailing medical condition puts him at the risk of contracting coronavirus infection in jail. The plea was rejected.
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