ED vs Rana Kapoor (Yes Bank - Money Laundering, PMLA)

Court: Special PMLA Court, Mumbai · Status: TRIAL · Type: PMLA

ED alleged Rana Kapoor laundered Rs 600 crore in alleged proceeds of crime through family-controlled entities, constituting money laundering under PMLA. Kapoor arrested 8 March 2020; assets of Rs 415 crore attached. Trial ongoing at Special PMLA Court, Mumbai. Bail denied by both Special Court and Bombay High Court. No convictions recorded.

Timeline

• 2020-03-08 Arrest: Enforcement Directorate arrests Rana Kapoor at his residence at Samudra Mahal, Worli, Mumbai at approximately 3 AM after overnight questioning. Kapoor is the first person arrested in the Yes Bank crisis. He is produced before a Mumbai court and remanded to 12 days of ED custody. ED cites money laundering through DoIT Urban Ventures, a company controlled by his family, which received Rs 600 crore allegedly as kickbacks from DHFL promoters. [source]
• 2020-03-20 Bail Denied: Special PMLA Court, Mumbai denies bail to Rana Kapoor. Court notes gravity of alleged offence and risk of evidence tampering. Kapoor sent to judicial custody after ED custody ends. [source]
• 2020-04-15 Attachment: ED attaches assets worth over Rs 415 crore belonging to Rana Kapoor, his family members and associated entities. Attached assets include residential properties in Mumbai and Delhi, shares and investments held through DoIT Urban Ventures and related shell companies. [source]
• 2020-08-01 Chargesheet: ED files prosecution complaint (chargesheet) before Special PMLA Court, Mumbai against Rana Kapoor and others. Complaint details proceeds of crime worth Rs 600 crore traced to DoIT Urban Ventures. Court takes cognisance of the complaint. [source]
• 2021-06-01 Bail Denied: Bombay High Court dismisses Rana Kapoor's bail application in the ED PMLA case. Court holds that given the magnitude of the alleged offence and its impact on depositors, no case for bail is made out. Kapoor continues in judicial custody. [source]

Accused means charged, not convicted. We report what courts state. Every claim is sourced.