Yes Bank’s former MD and CEO Rana Kapoor got a big relief from the Delhi High Court on Friday. The court has granted bail to Rana Kapoor with certain conditions. The ED had arrested Rana Kapoor on charges of money laundering of Rs 466.51 crore. The ED alleges that Rana Kapoor disbursed loans to his family and relatives to benefit companies linked to them, causing a loss of Rs 466.51 crore to Yes Bank.
In March 2022, the CBI had filed a case against Rana Kapoor in the case of cheating and criminal conspiracy. Rana is accused of misusing his position to benefit his family.
Rana Kapoor accused of Money Laundering
The Enforcement Directorate had filed a charge sheet against Rana Kapoor last year. ED had filed a 1300-page charge sheet against Rana Kapoor, his wife Bindu Kapoor, Gautam Thapar, promoter of Avantha Group. This charge sheet was filed in the special PMLA court regarding money laundering. The investigating agency had made 10 people accused in its charge sheet. In this charge sheet, it was told how Rana Kapoor wrongly got Gautam Thapar of Avantha Group a loan of 1900 crores from Yes Bank. For this, Rs 300 crore was given as bribe to Rana Kapoor’s family.
Know Whole Matter
Actually, Gautam Thapar of Avantha Group had a big bungalow on Amrita Shergil Marg, a posh area of Delhi. The cost of this bungalow was around 685 crores. Thapar had deposited this bungalow as mortgage to Yes Bank. Later this bungalow was bought by Rana Kapoor for just Rs 380 crores. Here the Avantha group became a defaulter. The total outstanding on the company was around 2500 crores. Apart from ED, CBI has also registered several cases against Yes Bank owner Rana Kapoor in different cases.
Apart from this, the stock market regulator SEBI also took action against Rana Kapoor. SEBI had last year ordered attachment of all bank accounts, shares, mutual funds and lockers of Rana Kapoor to recover a fine of over Rs 1 crore. Kapoor was fined by the regulator, which he could not pay.
Also Read – International Indigenous day 2022: Everything You Need To Know
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.
