The Supreme Court on Friday dismissed bail plea of Yes Bank founder Rana Kapoor in an alleged money laundering case.
He has been accused of receiving kickbacks or illegal gratification for sanctioning bad loans.
Kapoor has been in jail since March 2020 in connection with the DHFL money laundering case.
During April 2018 and June 2018, Kapoor through M/s Yes Bank Limited invested ₹3,700 crore in short-term non-convertible debentures of DHFL. Further, the bank sanctioned a loan of 7.50 Billion rupees to a subsidiary of Dewan Housing. Kapoor also allegedly received kickbacks of Rs 6 Billion by extending a loan to DOIT Urban Ventures (India) Pvt Ltd, which is wholly owned by RAB Enterprises, a company owned by Kapoor's wife and daughters.
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