NI Bureau
The Supreme Court has turned down a bail plea from Rana Kapoor, the founder of Yes Bank, in a money laundering case. Kapoor has been in custody since March 2020 in connection with the DHFL money laundering case. The case pertains to the alleged mis-selling of the bank’s AT1 (Additional Tier-1) bonds to retail investors by certain bank officials. It is claimed that the bank and these officials failed to disclose the associated risks while selling the AT-1 bonds in the secondary market. The sale of these bonds occurred between 2016 and 2019.
