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.
Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.Swati Deshpande is Senior editor at The Times of India, Mumbai, w...
Read MoreSwati Deshpande is Senior editor at The Times of India, Mumbai, where she has been covering courts for over a decade. She is passionate about law and works towards enlightening people about their statutory, legal and fundamental rights. She makes it her job to decipher for the public the truth, be it in an intricate civil dispute or in a gruesome criminal case.
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