Khushi Doshi
Published On: February 17, 2022 at 15:26 IST
MG Deshpande, a special PMLA judge, granted bail to Rana Kapoor and Gautam Thapar on a personal bond of INR 5 lakh each, with one or two sureties in the same amount.
On Wednesday, a special Prevention of Money Laundering Act (PMLA) Court granted Bail to Avanta Group Promoter Gautam Thapar and Yes Bank founder Rana Kapoor in a money laundering case filed by the Enforcement Directorate (ED).
They were granted Bail by Special PMLA Judge MG Deshpande on a personal bond of 5 lakh each, with one or two sureties in the same amount. Kapoor, on the other hand, will not be released because he is charged in other cases as well.
Advocates Vijay Aggarwal and Rahul Agarwal argued Kapoor’s Bail application, while Thapar was represented by senior Advocate Mahesh Jethmalani.
The CBI and the ED had alleged that Rana Kapoor, while serving as MD and CEO of Yes Bank, conspired with Gautam Thapar with the intent of providing undue financial benefits to Avantha Reality Ltd, one of the Avantha Group companies, by Yes Bank Ltd and illegally obtaining money in return from Avantha Reality Ltd.