Mumbai Court Denies Bail To Rana Kapoor In Yes Bank Money Laundering Case
Rana Kapoor was once arrested by means of the Enforcement Directorate in a cash laundering case in March (Document)
Mumbai:
A unique courtroom in Mumbai as of late rejected Sure Financial institution founder Rana Kapoor’s bail plea. The banker was once arrested in March by means of the Enforcement Directorate in reference to an alleged multi-crore fraud on the financial institution.
Rana Kapoor had sought bail at the deserves of the case and his attorneys submitted that since investigation within the case is whole, there is not any explanation why to stay him in prison. Lots of the proof is documentary in nature and can’t be tampered with by means of the accused, they added.
Then again, particular pass judgement on PP Rajvaidya rejected Rana Kapoor’s plea.
Rana Kapoor, these days in judicial custody, was once arrested in March below the provisions of the Prevention of Cash Laundering Act (PMLA).
The Enforcement Directorate (ED) is essentially investigating Rana Kapoor, his spouse and 3 daughters over Rs 600 crore gained by means of a company allegedly managed by means of them from an entity connected to the scam-hit Dewan Housing Finance Restricted (DHFL).
Rana Kapoor, his members of the family and others gained advantages of Rs four,300 crore thru firms managed by means of them as kickbacks for sanctioning large loans, the central company has alleged.
He’s additionally accused of receiving bribes for going simple on loans given to a couple of giant company teams that had changed into non-performing belongings.
The Central Bureau of Investigation could also be probing a comparable case.
