A Mumbai court on April 12 granted bail to Yes Bank co-founder Rana Kapoor in a case of alleged money laundering, amounting to Rs 200 crore.

The case is linked to six loans given to Housing Development and Infrastructure Ltd (HDIL) by Yes Bank between 2011 and 2016 when Kapoor was associated with the private lender's operation.

Despite the bail order issued by the Mumbai Sessions Court, directs Kapoor to continue to remain behind bars as he has a number of other cases pending against him. Kapoor was arrested back in March 2020 by the Enforcement Directorate, under provisions of the Prevention of Money Laundering Act (PMLA). He is currently lodged in Taloja jail in Navi Mumbai.

The ED had accused Kapoor, along with his family members, of receiving benefits to the tune of around Rs 4,300 crore through entities controlled by them, in the form of kickbacks for sanctioning mega loans.