Mumba: Yes Bank founder Rana Kapoor’s bail request in a money laundering case was today rejected by the Supreme Court.
Kapoor has been in jail since March 2020 in connection with the DHFL money laundering case.
The case relates to mis-selling of the bank’s AT1 (Additional Tier-1) bonds to retail investors by the bank’s officials. It was alleged that the bank and certain officials did not inform investors of the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT1 bonds started in 2016 and continued till 2019.
