In 2020, Kapoor was arrested by the Enforcement Directorate in connection with a money laundering case under the Prevention of Money Laundering Act.
The former banker is currently lodged in Taloja jail in Navi Mumbai.
The probe agency had said Kapoor, his family members and others got benefits worth hundreds of crores through companies controlled by his family as kickbacks for sanctioning huge loans.
An Enforcement Case Information Report (ECIR) was registered against Gautam Thapar, Avantha Realty Ltd, Oyster Buildwell Pvt. Ltd. and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion and misappropriation of public money during the period 2017 to 2019, thereby causing losses to the tune of Rs. 466.51 crore to Yes Bank.
A special judge bench of a trial court had rejected Kapoor's bail plea and held that the allegations against the banker were grave and serious in nature. The court however had granted bail to 15 co-accused persons.
Before the trial court, the bail plea was opposed by the Enforcement Directorate on the ground that Kapoor was instrumental in the generation of the proceeds of crime.
The counsel representing Kapoor, however, argued that the agency did not arrest him during the investigation, and since the chargesheet was already filed, no purpose would be served by sending him in custody.
While rejecting Kapoor's bail plea, the special judge had observed that the 15 accused persons were only hands and as per the averments mentioned in the complaint, appeared to have been doing certain acts or omissions, while seemingly taking instructions from either Gautam Thapar or Rana Kapoor as their agents or employees.
Meanwhile, the Securities and Exchange Board of India in September had imposed a penalty of ₹2 crore pertaining to misselling of Additional Tier 1 bonds' to investors.
