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Yes Bank fraud: Rana Kapoor’s bail plea hearing adjourned until April 3

Kapoor last week applied for bail on the grounds that if he remained behind bars, he might contract COVID-19.

March 30, 2020 / 04:56 PM IST

A Special Prevention of Money Laundering Act court on March 30 adjourned the hearing on the bail plea filed by Yes Bank co-founder Rana Kapoor until April 3.

Kapoor last week applied for bail on the grounds that if he remained behind bars, he might contract COVID-19.

In his bail application, Kapoor says he has chronic immunodeficiency syndrome, which makes him susceptible to lung infection, sinus and skin disorders.

Apart from this, the former banker has been suffering from bronchial asthma, which still requires inhalers. He also has hypertension and anxiety problems for the last two years.

"When the government can release 60,000 prisoners owing to the risk of COVID-19, why not him, who is 62 years old and suffering from many diseases that increase his COVID-19 infection risk," a member of Kapoor’s legal team told Moneycontrol.

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The Enforcement Directorate arrested Kapoor on March 7 over money laundering charges. More than Rs 30,000 crore loans, which were sanctioned during Kapoor's tenure at Yes Bank, are currently under the scanner. Up to Rs 20,000 crore loans have turned non-performing assets.

The Kapoor family has created more than 102 companies which are also under investigation.

The Central Bureau of Investigation has already issued a production warrant for Kapoor. However, the agency has not taken custody so far and might wait for the end of COVID-19 crisis. The CBI and ED have both registered two cases each against him.

Currently, Kapoor is lodged in Taloja jail, on the outskirts of Mumbai. His judicial custody will end on April 2.
Tarun Sharma
first published: Mar 30, 2020 04:54 pm

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