Neutral Citation Number: 2022/DHC/005170

BAIL APPLN. 559/2022

RANA KAPOOR V DIRECTORATE OF ENFORCEMENT

Page 1

$~28

*

IN THE HIGH COURT OF DELHI AT NEWDELHI

Reserved on: 31^st October, 2022

Decided on: 25^th November, 2022

+

BAIL APPLN.559/2022

RANA KAPOOR

.....Applicant

Through: Mr. Vikas Pahwa, Senior

Advocate with Ms. Stuti

Gujral, Ms. Priti Verma

Mr. Shaurya Singh,

Mr. Prabhav Rali and

Mr. Abhishek Pati,

Advocates.

V

DIRECTORATE OF ENFORCEMENT ...... Respondent

Through: Mr. Anupam S. Sharrma,

Special counsel, ED with

Mr. Prakarsh Airan, and

Ms. Harpreet Kalsi,

Mr.

Ripudaman

Sharma,

Mr. Abhishek Batra,

Mr. Nishant Chaudhary and

Mr. Anurag Verma,

Advocates.

%

CORAM:

HON’BLE MR. JUSTICE SUDHIR KUMAR JAIN

JUDGMENT

1. The present bail application is filed under section 439 of the Code

of Criminal Procedure, 1973 (herein after referred to as “the Code”)

seeking bail in C.C.no. ECIR/11/HIU/2021 dated 15.06.2021 titled

Digitally Signed

By:JITENDRA

Signing Date:28.11.2022

11:59:21

Signature Not Verified

Neutral Citation Number: 2022/DHC/005170

BAIL APPLN. 559/2022

RANA KAPOOR V DIRECTORATE OF ENFORCEMENT

Page 2

Directorate of Enforcement V Gautam Thapar & others pending

in the court of Special Judge (PC Act, CBI-02), Rouse Avenue

District Court, New Delhi.

2. CBI registered FIR bearing RC No.2232021A0005 under sections

120B and 406, 420, 468, 471 IPC at P.S AC-V, Delhi on basis of

complaint received from Ashish Vinod Joshi, Chief Vigilance

Officer, Yes Bank Limited against M/s Oyster Build well Private

Limited and its holding company M/s Avantha Reality Limited, its

Directors/Promoters namely Raghubir Kumar Sharma, Shri Rajendra

Kumar Mangal, Shri Tapsi Mahajan and Gautam Thapar and

unknown officials of M/s Jhabua Power Investment Limited,

unknown known officials of Power Power Limited, unknown

officials of M/s Avantha Holdings Ltd., unknown officials of M/s

Avantha Power & Infrastructure Ltd. and unknown bank officials.

2.1 Thereafter respondent filed CC No. ECIR/11/HIU 2021 dated

15.06.2021 under sections 44 and 45 of Prevention of Money

Laundering Act, 2002 (hereinafter referred to as “PMLA”) for

commission of offence of money laundering as defined under

sections 3 and 4 of PMLA which is pending in the Court of Special

Digitally Signed

By:JITENDRA

Signing Date:28.11.2022

11:59:21

Signature Not Verified

Neutral Citation Number: 2022/DHC/005170

BAIL APPLN. 559/2022

RANA KAPOOR V DIRECTORATE OF ENFORCEMENT

Page 3

Judge, PMLA, Rouse Avenue Courts. It is alleged in complaint that

subsequent to the removal of Rana Kapoor i.e. the applicant from

management of YES Bank on allegations of granting various credit

facilities to several companies by not following the banking norms

thereby causing huge amount of losses to the YES Bank in lieu of

illegal gratification, various complaints have been filed against

applicant and one such complaint relates to the credit facilities to the

extent of Rs. 514.27 Cr extended to Oyster Buildwell Private Limited

(OBPL) causing a wrongful loss of Rs. 466.51 Cr to the YES Bank.

The said complaint led to the registration of FIR bearing no.

RC2232021A0005 dated by CBI, Delhi under sections 120(B), 406,

420, 468 and 471 of IPC, 1860 against persons as mentioned

hereinabove. It is alleged that above persons having committed

criminal breach of trust, cheating, criminal conspiracy and forgery for

diversion/misappropriation of the public money during the period

from 2017 to 2019 and causing loss to the tune of Rs.466.51 crore to

YES Bank.

2.2 It was observed that huge amounts of proceeds had been

generated from the criminal activity related to the Scheduled

Digitally Signed

By:JITENDRA

Signing Date:28.11.2022

11:59:21

Signature Not Verified

Neutral Citation Number: 2022/DHC/005170

BAIL APPLN. 559/2022

RANA KAPOOR V DIR