MUMBAI: Observing that right to a speedy trial is a fundamental right of an undertrial prisoner, and no one should be detained without trial for an indefinite period, in a 70-page detailed order granting bail to Yes Bank founder Rana Kapoor (66) in the last of eight cases against him, the special judge said further incarceration without trial would amount to pre-trial conviction.The judge observed that while ED had appropriately included certain other high-level officials as accused in their prosecution complaint, CBI has failed to do so, raising concerns about their selective targeting of Kapoor.
“Individuals such as Parag Gorakshakar, Sanjay Palve, Ashish Agarwal, Amit Kumar, and Punit Malik, who were involved in these loan proposals as per Yes Bank’s credit policy, are accused in ED’s prosecution complaint, yet not in the CBI case. However, their statements are utilised by CBI to single out accused…highlighting a glaring discrepancy in the investigations,” special judge MG Deshpande said.
The judge further said this is the only case among several others mentioned earlier where Rana Kapoor has been an undertrial prisoner for over 2 years 7 months. “Despite significant efforts, there is still no likelihood of the trial commencing,” the judge said.
The judge further said that while granting bail to co-accused Gautam Thapar, Bombay high court had clearly anticipated there is no possibility of trial of this case in future.
Rana Kapoor was first arrested by Enforcement Directorate (ED) in a money laundering case on Mar 8, 2020. ED and CBI have, between them, registered eight cases against Kapoor for alleged bank frauds. On Friday, he was granted bail in connection with the Amrita Shergill Marg New Delhi property case over a loan of Rs 400 crore. He was arrested in this case by CBI on Aug 14, 2021. Kapoor’s bail plea argued by senior counsel Aabad Ponda and advocate Rahul Agarwal said the chargesheet against him shows no role as alleged.
Discussing merits of the case, the judge said it was evident that the loan was sanctioned unanimously by all 10 members of the management credit committee on Mar 29, 2016 , indicating that Rana Kapoor alone was not solely responsible for the decision.
Granting bail in the Avantha case, the detailed order of which was made available on Saturday, the judge also referred to Supreme Court Chief Justice’s recent speech which spoke of rising apprehension that district courts were increasingly reluctant to entertain matters concerning personal liberty and the longstanding principle that ‘bail is the rule, jail the exception’ seems to be losing ground.
“Individuals such as Parag Gorakshakar, Sanjay Palve, Ashish Agarwal, Amit Kumar, and Punit Malik, who were involved in these loan proposals as per Yes Bank’s credit policy, are accused in ED’s prosecution complaint, yet not in the CBI case. However, their statements are utilised by CBI to single out accused…highlighting a glaring discrepancy in the investigations,” special judge MG Deshpande said.
The judge further said this is the only case among several others mentioned earlier where Rana Kapoor has been an undertrial prisoner for over 2 years 7 months. “Despite significant efforts, there is still no likelihood of the trial commencing,” the judge said.
The judge further said that while granting bail to co-accused Gautam Thapar, Bombay high court had clearly anticipated there is no possibility of trial of this case in future.
Rana Kapoor was first arrested by Enforcement Directorate (ED) in a money laundering case on Mar 8, 2020. ED and CBI have, between them, registered eight cases against Kapoor for alleged bank frauds. On Friday, he was granted bail in connection with the Amrita Shergill Marg New Delhi property case over a loan of Rs 400 crore. He was arrested in this case by CBI on Aug 14, 2021. Kapoor’s bail plea argued by senior counsel Aabad Ponda and advocate Rahul Agarwal said the chargesheet against him shows no role as alleged.
Discussing merits of the case, the judge said it was evident that the loan was sanctioned unanimously by all 10 members of the management credit committee on Mar 29, 2016 , indicating that Rana Kapoor alone was not solely responsible for the decision.
Granting bail in the Avantha case, the detailed order of which was made available on Saturday, the judge also referred to Supreme Court Chief Justice’s recent speech which spoke of rising apprehension that district courts were increasingly reluctant to entertain matters concerning personal liberty and the longstanding principle that ‘bail is the rule, jail the exception’ seems to be losing ground.