By Online Desk
A special PMLA court in Mumbai on February 16 granted bail to Yes Bank founder Rana Kapoor in the alleged fraud case of over Rs 300 crore, reported News Agency ANI.
Earlier in the day, the Delhi High Court sought a response from the Enforcement Directorate on the bail plea of Kapoor, a former MD, and CEO of YES Bank, in a money laundering case related to the wrongful loss of Rs 466.51 crore to the bank.
The Bench of Justice MK Ohri sought a response from the financial probe agency and slated the matter for March 11, 2022, for further hearing.
Advocate Siddharth Aggarwal along with advocate Stuti Gujral appeared for Kapoor in the matter while advocate Amik Mahajan appeared for Enforcement Directorate.
The trial court had in January refused to grant bail to Kapoor. The same court earlier had also dismissed the bail petition of businessman Gautam Thapar, promoter of Avantha Group.
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Thapar’s bail plea is presently being examined by the Delhi High Court. Thapar was arrested by the ED in August last year and is currently in judicial custody.
The trial court in October 2021, took cognizance of the ED charge sheet (Prosecution Complaint) filed against Avantha group promoter Gautam Thapar involving Yes Bank’s Rana Kapoor and several employees in connection with the money laundering case.
The trial court had said, “Hereby take cognizance of offence as there are sufficient grounds to proceed against the accused persons arraigned in the present complaint.”
According to the ED, an FIR was registered against Gautam Thapar, Avantha Realty Ltd, Oyster Buildwell Pvt Ltd and others alleging criminal breach of trust, cheating, criminal conspiracy, and forgery for diversion or misappropriation of public money during the period 2017 to 2019.
Earlier, the ED had told the Delhi Court that, “Investigation revealed that approximately Rs 500.11 crores proceeds of crime, were laundered through Oyster Buildwell Pvt Ltd (OBPL), Jhabua Power Limited (JPL), Jhabua Power Investment Ltd (JPIL), Avantha Power and Infrastructure Ltd (APIL), Avantha Realty Ltd (ARL), etc which are being controlled and beneficially owned directly or indirectly by Gautam Thapar.”
(With agency inputs)
