A special court in Mumbai has granted bail to Yes Bank founder Rana Kapoor in connection with a money laundering case registered by the Enforcement Directorate (ED). Kapoor, who was arrested on March 8, 2020, has spent more than the minimum three-year punishment period without charges or trial. However, the 66-year-old will remain in jail as his bail plea in another CBI case is pending. The special court granted Kapoor bail under Section 436 A of the Criminal Procedure Code, which allows the release of undertrial prisoners after serving half of the maximum jail sentence.

The court emphasized that Kapoor had already undergone the minimum sentence without trial and was not responsible for the delays in the case. The judge also highlighted the importance of the ED completing further probes within a reasonable time, preventing the accused from being held for the entire period of the maximum sentence.

Despite the ED’s request to stay the bail order, the judge refused, stating that the agency could challenge the decision after the winter vacation. The judge also highlighted that prolonged incarceration without trial violates the fundamental right to life and personal liberty. The court questioned the impact on Kapoor if he is acquitted in the future after undergoing undue incarceration.

Kapoor’s wife, daughter, and DHFL promoters Kapil and Dheeraj Wadhawan are also co-accused in the money laundering case. The judge referred to statistics on the slow pace of disposal of cases under the Prevention of Money Laundering Act (PMLA) and emphasized the complexity of PMLA trials. Section 44(1)(c) of the PMLA requires trials in scheduled offences and money laundering cases to be conducted together.

While Kapoor has been granted bail in the ED case, he will remain in jail until his bail plea in the CBI case is resolved.