No relief for Yes Bank founder Rana Kapoor, the court rejects interim bail plea

No relief for Yes Bank founder Rana Kapoor the court rejects interim bail pleaRana Kapoor, 62, had sought bail claiming that his prevailing medical condition puts him at the risk of contracting coronavirus infection in jail.

A Mumbai court on Friday rejected the interim bail plea of Yes Bank founder Rana Kapoor, who is currently in judicial custody on money laundering charges. He claimed that he was suffering from chronic immunodeficiency syndrome, which causes recurrent lung, sinus and skin infections. He also claimed to be suffering from severe hypertension, anxiety and depression since the last 18 months.

The present situation of corona virus can lead to a severe lung infection and death as the disease is more likely to affect those above sixty years of age, with low immunity and long-standing respiratory problem. However, the court refused to grant interim relief to him.

Rana Kapoor was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) last month. Loans of Rs 30,000 crore were given by Yes Bank when Kapoor was at its helm, and of these, advances of Rs 20,000 crore turned into bad loans. Kapoor, his family members and others got benefits worth Rs 4,300 crore through companies controlled by his family as kickbacks for sanctioning huge loans.

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