Ex-MD & CEO of YES Bank Rana Kapoor denied bail

New Delhi, Jan. 20: A Delhi court on Thursday dismissed the bail application of former MD and CEO of YES Bank, Rana Kapoor, in a money laundering case related to the wrongful loss of `466.51 crore to the bank.

Special judge Sanjeev Aggarwal denied the relief to the Kapoor, noting that the allegations against him were most grave and serious in nature.

“Considering the overall facts and circumstances of the present case, since the allegations against the accused are most grave in nature, as a resultant no ground for his bail is made out at this stage. Consequently, the bail application of accused Rana Kapoor is dismissed,” the court said.

Kapoor moved the application after he was summoned by the court which took cognisance of a charge sheet filed by the ED. He told the court that he was not arrested during the investigation and since the charge sheet has already been filed, no purpose will be served by sending him in custody.

Kapoor is currently lodged at Taloja Jail, Mumbai in judicial custody in another matter of the ED. The application was opposed by ED’s special public prosecutor N.K. Matta, who told the court that Kapoor was instrumental in the generation of the ‘proceeds of crime’.

The court, however, granted bail to 15 other accused - B.Hariharan, Abishek S.Pandey, Rajendra Kumar Mangal, Raghubir Kumar Sharma, Anil Bhargava, Tapsi Mahajan, Surendra Kumar Khandelwal, Sonu Chadha, Harsh Gupta, Ramesh Sharma, Pawan Kumar Agarwal, Amit Mamtani, Ashish Agarwal, Amit Kumar, and Vinod Bahety - in the case.