Rana Kapoor: Former CEO of Yes Bank gets bail, Rana Kapoor comes out of jail after 4 years

Former CEO of Yes Bank Rana Kapoor has got bail. After getting bail, Rana Kapoor came out of jail late on Friday evening. After 4 years, he got a chance to breathe the air outside the jail.

An arrest was made in this case

ED sent Rana Kapoor to 4 years imprisonment for loan related irregularities. Was arrested earlier. The case in which ED arrested Kapoor in March 2020 is related to the loan given by Yes Bank to Dewan Housing Finance Corporation Limited (DHFL). It is alleged that Kapoor had committed irregularities in giving loan to DHFL. This case of loan related to DHFL is from the time when Rana Kapoor used to be the Chief Executive Officer of Yes Bank.

Bail granted in CBI case

Loan fraud related to DHFL. Apart from ED, CBI is also investigating the case. In that regard, a total of 7 separate FIRs have been registered on various charges including money laundering. Currently, the case in which Rana Kapoor has got bail is related to taking a bungalow at a cheap price in exchange for loan fraud. It is alleged that in the said case, he benefited by giving a wrongful loan and in return he got a luxurious bungalow in the VIP area of the national capital New Delhi as a bribe. The concerned bungalow is situated on Amrita Shergil Marg in New Delhi. A special court has granted bail to Rana Kapoor in the case, after which he was released from Taloja jail on Friday.

The bungalow deal was done at such a low price

CBI arrested Rana Kapoor A case was registered in March 2020 against his wife Bindu Kapoor, Avantha Group promoter Gautam Thapar, Bliss Adobe Private Limited and other entities. CBI alleges that Kapoor misused the position of CEO of Yes Bank and bought the bungalow located on Amrita Shergill Marg at cheaper than the market price. The concerned property was earlier owned by Gautam Thapar of Avantha Realty and its value has been stated by CBI to be Rs 550 crore. A loan of Rs 400 crore was taken from Yes Bank by mortgaging the bungalow. Later that bungalow was bought for Rs 378 crore by Bliss Adobe Company, of which Rana Kapoor's wife Bindu is the director.

Also read: Instructions of the Railway Ministry – If you are going to the station with a friend or relative, do not forget this task even by mistake.

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