Yes Bank founder Rana Kapoor to walk out of prison after Mumbai court grants him bail
Kapoor was under investigation by probe agencies CBI and ED in a bank fraud case amounting to Rs 466.51 crores.
Yes Bank founder Rana Kapoor was granted bail by a special court in Mumbai on Friday in a case investigated by the Central Bureau of Investigation (CBI). After more than four years, Kapoor will walk out of the Taloja Central prison as soon as his bail formalities are completed.
Kapoor was under investigation for a bank fraud case to the tune of Rs 466.51 crores. Apart from a case investigated by the Enforcement Directorate (ED) in which Kapoor managed to obtain bail last year, there were several other cases registered against him for fraud at the bank. Advocate Rahul Agarwal, who represents Kapoor, stated that in all the cases, the banker has managed to obtain bail. Agarwal added that they will strive to comply with the bail conditions at the earliest so that Kapoor can walk out of the prison by Saturday.
The court granted bail to Kapoor in the CBI's case against him and Avantha Group promoter Gautam Thapar for allegedly engaging in criminal conspiracy, criminal breach of trust, cheating, and forgery for the diversion of public money to the tune of Rs 466.51 crores.