DHFL case: CBI court grants bail to ex-business head of Yes Bank

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The court allowed provisional cash bail of 25,000 for four weeks so as to enable him to arrange the solvent surety

A special Central Bureau of Investigation (CBI) court on Thursday granted bail to Rajiv Anand, former business head of Yes Bank, in the cheating and corruption case involving private sector lender Dewan Housing Finance Corporation Ltd (DHFL).

Special judge S U Wadgaonkar ordered the bail on the execution of a personal bond of 25,000 with one solvent surety of the same amount. The court allowed provisional cash bail of 25,000 for four weeks so as to enable him to arrange the solvent surety.

The CBI on March 7, 2020, registered a case against DHFL, DOIT Urban Venture (India) Private Limited, and some other entities, their directors, and promoters. It named Yes Bank founder Rana Kapoor as the prime accused. The agency alleged Yes Bank invested 3,700 crores in short-term non-convertible debentures of DHFL between April and June 2018. Kapoor allegedly received 600 crores as kickbacks from DHFL.

The court last week granted bail to Mahesh Kumar Varakh, former group executive vice-president of Yes Bank.

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