Supreme Court Bail Hearing for Rana Kapoor Witnesses Debate Over SBI’s Role in Yes Bank Case

LI Network

Published on: 15 July 2023 at 13:05 IST

A heated argument took place between Supreme Court Judge Sanjiv Khanna and renowned Senior Advocate Harish Salve during the bail hearing of Rana Kapoor, the founder and former CEO of Yes Bank. The disagreement unfolded as the two legal stalwarts clashed over the State Bank of India’s (SBI) alleged “takeover” of Yes Bank and its implications on the ongoing case.

The bail hearing, which commenced in the Supreme Court earlier this week, saw Kapoor’s legal team, led by Senior Advocate Harish Salve, making a strong case for his release. Kapoor has been in judicial custody since his arrest in March 2020 by the Enforcement Directorate (ED) on charges of money laundering.

During the proceedings, Salve raised concerns regarding the SBI’s involvement in Yes Bank, stating that the bank’s “takeover” had influenced the investigations and was affecting Kapoor’s right to a fair trial. He argued that the SBI’s role in the rescue plan for Yes Bank, which included substantial financial support and restructuring, created a conflict of interest that required careful examination.

However, Justice Sanjiv Khanna expressed skepticism over Salve’s contentions, highlighting the need for factual evidence to substantiate the claims. The judge questioned the relevance of the SBI’s involvement in the bail hearing and emphasized the court’s focus on the charges against Kapoor and the merits of the case.

The exchange between Khanna and Salve grew increasingly contentious, with both legal experts presenting their arguments passionately. Salve argued that the SBI’s intervention in Yes Bank’s affairs had far-reaching implications, potentially impacting the fairness of the ongoing investigations and Kapoor’s right to a fair trial.

Justice Khanna, on the other hand, maintained that the bail hearing should primarily address the specific charges against Kapoor and his eligibility for release. He emphasized the need to maintain the integrity of the proceedings and avoid dilution of the case by delving into broader issues concerning the bank’s operations.

The hearing concluded with the court reserving its judgment on Kapoor’s bail application, leaving the final decision pending.

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