‘Kapoor can't be held solely responsible for Avantha loan’

Former founder of Yes Bank, Rana Kapoor, cannot be held solely responsible for loan sanctioned to the Avantha Group, specially when the proposal for sanction was scrutinised by the Management Credit Committee, the special court said while granting bail to Kapoor.

The court has raised questions over the CBI's act of not adding members of the committee as accused in the case although they have been arraigned as accused by the ED in money laundering allegations. The court has thus criticised the CBI that while it chose to prosecute Kapoor for alleged irregularities in sanctioning the loan, it made other members of the committee witnesses.