Yes Bank founder Rana Kapoor gets bail in alleged fraud case of Rs 300 crores

New Delhi: A Special PMLA Court, Mumbai, on Wednesday (February 16), granted bail to Yes Bank founder Rana Kapoor and co-accused Gautam Thapar in the alleged fraud case of more than Rs 300 crores. 

The case is in relation to a loan taken by one of Avantha Realty Limited’s holding company – Oyster Buildwell Pvt Ltd – from Yes Bank. The case also mentioned the alleged misappropriation of the loans between 2017 and 2019.

However, while the Mumbai sessions court has granted him bail in the alleged Rs 300 crore fraud, he will continue to be lodged at the jail in relation to several other fraud cases. 

Also on Wednesday, the Delhi High Court had sought a response from the Enforcement Directorate on the bail plea of former MD and CEO of YES Bank, Rana Kapoor, in a money laundering case related to the wrongful loss of Rs 466.51 crore to the bank.

According to a PTI report, Justice Manoj Kumar Ohri issued notice on Kapoor's plea and listed the case for further hearing on March 11. The trial court had bail to Kapoor last month even though it had granted bail to 15 other accuses. Also Read: Realme 9 Pro, Realme 9 Pro+ launched in India: Price, specs, features

The court had noted that the allegations against Rana were most grave and serious in nature. The 15 other accused who had received bail included B Hariharan, Abishek S Pandey, Rajendra Kumar Mangal, Raghubir Kumar Sharma, Anil Bhargava, Tapsi Mahajan, Surendra Kumar Khandelwal, Sonu Chadha, Harsh Gupta, Ramesh Sharma, Pawan Kumar Agarwal, Amit Mamtani, Ashish Agarwal, Amit Kumar, and Vinod Bahety. Also Read: LIC leads over SBI`s deposits, garners lion`s share of household savings flow: Report