Yes Bank founder Rana Kapoor gets bail after 4 years

MUMBAI: Yes Bank founder

Rana Kapoor

(67) walked out of Taloja Central Prison on Friday after over four years of undertrial incarceration. Special trial judge M G Deshpande of a sessions court granted him

bail

in the Avantha case, the last of the eight cases he was booked under.
Other courts had granted him bail in the other seven cases so far.
Kapoor was first arrested on March 7, 2020, in an alleged money laundering case.

The

ED

and

CBI

have between them registered eight cases against Kapoor for alleged bank frauds. The bail he got Friday was in connection with the Amrita Shergill Marg New Delhi property case over a loan of Rs 400 crore.
The CBI alleged that Kapoor, then managing director and chief executive officer of Yes Bank, had obtained "illegal gratification" in the form of a property located at a prime location in Delhi at a price much less than its market value for sanctioning a loan. The property belongs to Avantha Realty.