Mumbai: A special PMLA court on Wednesday granted bail to Yes Bank founder Rana Kapoor in an alleged money laundering case of Rs 300 crore. However, Rana Kapoor is likely to remain in jail for the time being in other cases registered by the CBI and the ED.
The Enforcement Directorate (ED) had registered a case against Rana Kapoor, former managing director of Yes Bank Ltd, alleging illegal gratification of Rs 307 crore in lieu of loan to Avantha Group promoter Gautam Thapar. According to reports, the ED has alleged that a bribe of Rs 300 crore was paid to Kapoor for facilitating a loan of Rs 1900 crore from Yes Bank to Gautam Thapar’s company.
Despite the bail order by the special PMLA court, Rana Kapoor is likely to remain in custody in other money laundering cases against him. A case of laundering was registered. The central agency had estimated a loss of around Rs 466.51 crore to the bank.
