Yes Bank’s Rana Kapoor denied bail

A lockdown/holiday court on Friday rejected the plea of Rana Kapoor, former chief executive officer and managing director of YES Bank, seeking interim bail citing his ill-health and the spread of COVID-19 in the city.

Judge P.R. Sitre said, “on perusal of medical certificate by Taloja jail authority it clearly reads that he is not suffering from any disease which is dangerous to his life and jail authority is in position to look after COVID 19 emergency.”

Mr. Kapoor’s bail was rejected after jail authorities submitted medical reports which stated that Mr. Kapoor did not have any life threatening ailments. Enforcement Directorate (ED) also opposed Mr. Kapoor’s bail following which the court rejected his plea.

The agency had booked Mr. Kapoor for money laundering charges and arrested him on March 8.

On March 26, Mr. Kapoor had moved the bail plea stating that he was suffering from chronic immune deficiency syndrome, which causes recurrent lung, sinus and skin infections, severe hypertension, anxiety and depression, since the last 18 months because of which he needed to be treated in the presence of his family.

Mr. Kapoor had stated that coronavirus can lead to severe lung infection and death, and that he was more prone to the disease because of his health conditions and age.

ED had earlier stated that it was investigating loans above ₹5,000 crore that had been disbursed for pecuniary gains by Mr. Kapoor. According to the ED, loans totalling ₹30,000 crore were given by Yes Bank when Mr. Kapoor was at its helm, and of these, advances of ₹20,000 crore became bad loans.

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Printable version | Jul 28, 2021 11:08:48 AM |

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