yes bank rana kapoor

Supreme Court: In a plea for bail filed by Yes Bank’s founder Rana Kapoor seeking interim/anticipatory bail against arrest in Rs 600 Crore money laundering case, the Division Bench of Sanjiv Khanna and S.V.N. Bhatti, JJ. Refused to grant him interim bail and suggested him to file a fresh application for bail once he spends half of his normal sentence as an undertrial, which led him to withdraw the bail plea.

While refusing bail to Rana Kapoor, the Court justified the same that “he rocked the entire financial system”. Considering the extraordinary nature of the matter, the Court asked ED to take up the matter on priority basis as against the ongoing delay.

Earlier in May 2023, the Bombay High Court had rejected second bail plea by Yes Bank Founder in Rana Kapoor v. Enforcement Directorate, Criminal Bail Application No. 586 of 2023, being cautious that the POC involved in this case was to the extent of Rs. 5,333 crores with allegations of Rana Kapoor having hatched a conspiracy with the owners of Dewan Housing Finance Corporation Ltd (‘DHFL’) for siphoning huge amount and being involved in laundering public money.

Source: Press

[Rana Kapoor v. Enforcement Directorate, Criminal SLP No. 7700 of 2023, decided on 4-08-2023]

Advocates who appeared in this case :

For Petitioner: Advocate Kaushik Poddar;

For Respondent: Advocate Mukesh Kumar Maroria.

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