₹946 cr loan fraud: Fmr Yes Bank CEO, Cox & Kings execs granted bail

A special Central Bureau of Investigation (CBI) court on Wednesday granted bail to former Yes Bank chief executive officer and managing director Rana Kapoor and several senior executives of travel company Cox & Kings in an alleged loan fraud case worth ₹946.44 crore.

- Revu Suresh

MUMBAI:

"Nothing has been placed on record by the CBI to show that the custody of applicant is necessary during the course of the trial," special CBI judge SH Gwalani said while granting bail to Kapoor and five Cox & Kings executives — Anil Khandelwal, Naresh Jain, Manisha Amarapurkar, Subramanyam Ganesh and Hardik Valia.

The prosecution accuses Kapoor, during his stint as CEO and MD of Yes Bank, of colluding with the Cox & Kings executives and extending credit facilities to Ezeego One Tours and Travels Ltd (EOTTL), a Cox & Kings group firm, despite its weak financial position. The executives subsequently diverted the funds to discharge liabilities of the parent firm, it is alleged.