New Delhi: The Supreme Court on Friday refused to consider Yes Bank founder Rana Kapoor's bail plea in the money laundering case against him. The Supreme Court said that this matter had shaken the entire financial system. Rana Kapoor is in jail for the last three years.
New Delhi: The Supreme Court on Friday refused to consider Yes Bank founder Rana Kapoor’s bail plea in the money laundering case against him. The Supreme Court said that this matter had shaken the entire financial system. Rana Kapoor is in jail for the last three years.
Rana Kapoor is accused of misusing his position to benefit his family members and associates. He is accused of involvement in bribery, corruption and money laundering activities.
The case against Rana Kapoor was first registered by the CBI in 2020. He was arrested on March 8, 2020, in connection with a money laundering case registered by the Enforcement Directorate.
Kapoor has withdrawn the petition after the Supreme Court refused to consider his bail plea. The Supreme Court said that this case shook the entire financial system. Kapoor is in jail since March 2020 in the DHFL money laundering case.
Markets regulator Securities and Exchange Board of India (Sebi) sent a notice to the former MD and CEO of Yes Bank in late July, asking him to pay Rs 2.22 crore for mis-selling the private sector lender’s AT1 bonds. If he fails to make the payment within 15 days, attach the property as well as the bank accounts.
