Home / Business / #Yes Bank Crisis : No Relief For Embattled Rana Kapoor, Sent To Judicial Custody Till April 2

#Yes Bank Crisis : No Relief For Embattled Rana Kapoor, Sent To Judicial Custody Till April 2

There seems to be no relief for embattled Yes Bank founder Rana Kapoor. Arrested in a money laundering case, his lawyer told a court  that Kapoor is “easily susceptible” to getting infected by the coronavirus in prison .

Kapoor, arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) earlier this month, was remanded in judicial custody till April 2 as the investigation agency did not seek his further remand.

As his earlier remand ended, the ED produced the 62-year-old Kapoor, former MD and CEO of the beleaguered Yes Bank, before the court .

When the judge asked if he had any complaints, Kapoor said he has been suffering from asthma for the last six-seven years, has low immunity, and he was in acute depression.

Advocate Abbad Ponda, his lawyer, said a person with low immunity is “easily susceptible” to catching coronavirus.

“The virus is spreading very fast… It is a very precarious situation. If he goes there (to the jail) he might catch something which is very very serious,” the lawyer said, requesting that Kapoor should be kept in a larger cell.

The court asked the jail authorities to take proper care and provide him medicines as per the advice of the medical officer.As the ED did not want his further custody, judge Parashuram Jadhav sent Kapoor in judicial custody till April 2.

According to the ED, loans of Rs 30,000 crore were given by Yes Bank when Kapoor was at its helm, and of these, advances of Rs 20,000 crore became bad loans.

The central probe agency also claimed that over Rs 202 crores of loans given to a joint venture company of the HDIL group were used to repay previous dues of the real estate company which has now become bankrupt.

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