In a fraud prosecution, Yes Bank founder Rana Kapoor is granted bail

In the Rs 466.51 crore bank fraud case, co-founder of Yes Bank Rana Kapoor was granted bail by a special court here on Friday, enabling him to leave prison after four years.

In March 2020, Kapoor was taken into custody by the Enforcement Directorate (ED) in connection with a money laundering case. Since then, he has been charged with eight further counts of bank fraud. As of right now, the lender has obtained bail in each instance.

In the Central Bureau of Investigation’s case against him and Avantha Group, the court has granted Kapoor bail.

promoter Gautam Thapar for allegedly participating in fraudulent activities, criminal conspiracy, and criminal breach of trust

and falsification to divert Rs 466.51 crore in public funds.