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A Special PMLA Court in Mumbai, while granting bail to Yes Bank co-founder Rana Kapoor in a 400-Crore loan fraud case, questioned the selective targeting of Rana Kapoor by the CBI, noting the omission...
Kapoor had to face charges in eight cases filed by both the ED and the Central Bureau of Investigation (CBI) which was related to fraud at the Yes Bank.
The property belonging to Avantha Realty Ltd (ARL) was already mortgaged for a loan taken by the company from Yes Bank. It was purchased for Rs 378 crore -- against the market value of Rs 685 crore -- by Bliss Abode Private Limited, run by Rana Kapoor's wife Bindu Kapoor, in 2017.
Rana Kapoor was arrested by the Enforcement Directorate (ED) in March 2020 in a money laundering case related to alleged fraudulent loans advanced to DHFL | Latest News India
Get latest articles and stories on India at LatestLY. A special court here has observed that the Enforcement Directorate (ED) has not taken an "active approach" to begin the trials in money laundering cases that are pending since a long time. India News | Mumbai: Court Pulls Up ED for Not Taking Active Approach to Begin Trials in PMLA Cases.