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Business News/ News / India/  Yes Bank founder Rana Kapoor to stay in jail in money laundering case, bail plea rejected
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Yes Bank founder Rana Kapoor to stay in jail in money laundering case, bail plea rejected

Yes Bank founder Rana Kapoor is currently lodged at Taloja jail
  • DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan have also been named in the case
  • A file photo of Yes Bank founder Rana Kapoor. (HT)Premium
    A file photo of Yes Bank founder Rana Kapoor. (HT)

    Bombay High Court has rejected Yes Bank founder Rana Kapoor's bail plea in a money laundering case, reports ANI. The Enforcement Directorate (ED) is probing the money laundering angle in the scam. Rana Kapoor is currently lodged at Taloja jail.

    DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan have also been named in the case.

    Private sector lender Yes Bank on Friday reported a profit of 150.71 crore for the third quarter ended December 2020. It had posted a record loss of 18,654 crore a year ago due to surge in bad loans.

    Also Read | Revenge of the lambs at the Gabbatoir

    The bank's woes primarily stem from alleged corporate governance lapses under co-founder chief executive Rana Kapoor, who was arrested in March by the Enforcement Directorate and was booked under a fresh case by the CBI as well.

    Kapoor's successor Ravneet Gill had chosen to report stress in the March 2019 quarter, leading for the maiden quarterly loss, and followed it up with two more quarters of weak results.

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    Published: 25 Jan 2021, 12:55 PM IST
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