(Image source from: ndtv.com)

Rana Kapoor, the founder of Yes Bank has been granted bail by a Mumbai-based sessions court today in a money laundering case of Rs 300 crores to the bank. A Special Court under the Prevention of Money Laundering Act (PMLA) granted a conditional bail. Rana Kapoor was asked not to leave the country and his passport has been asked to be seized. The court asked him to appear before the court on all the mentioned dates till the case gets closed. Rana Kapoor is also asked to submit a provisional surety of Rs 5 lakhs. Apart from Rana Kapoor, businessman Gautam Thapar along with seven others are granted bail in the case.

Rana Kapoor and Thapar will not be released now as they are facing allegations in some other cases and they are in judicial custody. The current case is related to a property in Amrita Shergill Marg in New Delhi that is owned by Rana Kapoor's wife Bindu Kapoor. A separate FIR was registered by the Central Bureau of Investigation (CBI) in Mumbai in 2021. The Enforcement Directorate (ED) filed a money laundering case based on the FIR of the CBI. Rana Kapoor's lawyer argued that his client was not arrested by the ED. The Enforcement Directorate is currently tracing the transactions between Rana Kapoor, his wife and Thapar's Avantha Realty.

By Siva Kumar