Thursday, February 22, 2024

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Rana Kapoor gets bail in one of the cases

A Mumbai sessions court on Wednesday granted bail to former MD and CEO of YES Bank, Rana Kapoor, businessman Gautam Thapar and seven others in a case pertaining to the sale of a property at a prime location in Delhi.

Mr Kapoor and Mr Thapar, however, will not be released yet as they are in judicial custody in connection with some other cases.

The present case pertains to allegations in the sale of a property situated on Amrita Shergill Marg in Delhi to a company owned by Rana Kapoor’s wife, Bindu Kapoor.

A special court under the Prevention of Money Laundering Act (PMLA) granted Mr Kapoor bail with certain standard conditions. He can’t leave the country and the court directed the seizure of his passport. He is also required to attend the court on all dates when the matter is fixed. He also has to submit a provisional surety of ₹ 5 lakh.

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