The Supreme Court on Friday rejected the bail plea of Yes Bank founder Rana Kapoor in the money laundering case.
While hearing the bail plea, a bench of Justices Sanjiv Khanna and S.V.N. Bhatti asked Kapoor to file a fresh bail plea once he spends half his normal sentence.
The SC was hearing the bail petition filed by Kapoor in connection with a Rs 600 money laundering case involving Kapil Wadhawan, director of the Dewan Housing Finance Corporation Ltd (DHFL).
"Normally we consider based on the period already undergone...but here he rocked the entire financial system,"Justice Khanna was quoted by Bar and Bench.
The bench also asked the Enforcement Directorate (ED) to speed up the trial. Kapoor has been in jail since March 2020 in connection with the DHFL money laundering case.
"Some cases are extraordinary. You have to take it on priority basis. What is this (delay)? There is something wrong. You cannot take it up like this. And thing is once they get bail, trial will not end in at least 10 years," said the bench.
Enforcement Directorate (ED) was probing Kapoor's role in connection with the disbursal of a loan to corporate entity and subsequent alleged kickbacks received in his wife's accounts.
Earlier, the Bombay High Court had rejected his bail plea observing huge loss of public funds allegedly on account of the criminal activities of his companies.