Coronavirus Imprisons India But Yes Bank Rana Kapoor Seeks Bail From It..!

MUMBAI: Yes Bank founder Rana Kapoor currently in judicial custody after arrest on money laundering charges, moved a bail application on Thursday claiming his prevailing medical condition puts him at the risk of contracting coronavirus in jail.

In the plea filed through his lawyer Subash Jadhav, Kapoor claimed he was suffering a chronic immunodeficiency syndrome, which causes recurrent lung, sinus and skin infections. The 62-year-old banker also claimed to be suffering from severe hypertension, anxiety and depression for the last 18 months, which is in large part being treated in his presence of his family.This, combined with bronchial asthma since childhood, which still requires inhalers, puts him at high risk of a severe lung infection which can lead to death, the bail plea said.

The plea further stated that the present situation of coronavirus can lead to severe lung infection and even death of the applicant as the disease is more like to infect persons above 60 years of age, with low immunity and long-standing respiratory problem. “It is submitted that the aforesaid disease requires the applicant to consume carefully monitored and home cooked food in order to combat and control the said disease. The applicant is also required to stay at home,” the plea said.

The PMLA court, before which the plea was filed, posted the matter for hearing on Monday and directed the officials of Taloja jail in Navi Mumbai, where Kapoor is lodged, to submit his medical records. Kapoor was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) earlier this month. According to the ED, loans of Rs 30,000 crore were given by Yes Bank when Kapoor was at its helm, and of these, advances of Rs 20,000 crore became bad loans.

Private lender Yes Bank on Thursday constituted a new Board led by former SBI official Prashant Kumar.
Eight members including Kumar were appointed to the Board, which subsequently held its first meeting where it decided to raise Rs 5,000 crore. “The Board, at its meeting today, has approved, subject to receipt of requisite approvals, raising of funds for an additional amount aggregating up to Rs 5,000 Crores, in one or more tranches, on such terms and conditions as it may deem fit, by way of issuance of securities including but not limited to through a qualified institutions placement, public issue, rights issue, global depository receipts, American depository, receipts, foreign currency convertible bonds or any other permissible mode,” the bank said in a BSE filing. “It is clarified that no shareholders’ approval has been sought, nor is such approval required, in the event that any issuance of securities is undertaken by way of a rights issue.”


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