Supreme Court rejects bail plea of YES Bank’s founder Rana Kapoor

Stating that the case has ‘rocked the entire banking system’, the Supreme Court on Friday rejected the bail plea of YES Bank’s founder Rana Kapoor on Friday.

New Delhi: The Supreme Court on Friday refused to entertain the bail plea of  Yes Bank’s founder  Rana Kapoor in a money laundering case and remarked that this case has rocked the entire financial system. After a bench of Justices Sanjiv Khanna and SVN Bhatti were not convinced, Rana Kapoor sought to withdraw his plea. The court asked Rana Kapoor to move his plea after some time before the appropriate court.

Rana Kapoor has been lodged in jail since March 2020.

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He was arrested under the provisions of money laundering charges in alleged financial irregularities of Yes Bank and DHFL. Rana Kapoor’s counsel told the court that he has undergone judicial custody for more than half of the minimum punishment in the case. The top court asked prosecuting agency about the stage of the trial in the case. The top court asked the prosecuting agency to take such cases on a priority basis.