In its detailed order allowing bail to former Yes Bank managing director Rana Kapoor in the Avantha realty case, the special court said that the Enforcement Directorate (ED) has not shown any “active approach” to begin trial of cases pending for long.
“It is a fact that ever since this special court for PMLA (Prevention of Money Laundering Act) cases has been established, not a single PMLA case has been disposed of by judgment. ED had not shown any active approach to begin the trials of the cases that have been pending since long,” special judge M G Deshpande said in his order.
Kapoor and other co-accused were granted bail last week. The court observed that the ED had not arrested these accused during the stage of investigation and no report of them having tampered with evidence had been filed then.
“It is a very big and lengthy trial as the trial case pertaining scheduled offence has to be conducted simultaneously with the trial of PMLA case… till date, no one is sure when the trial of this case will begin and conclude. This aspect cannot be ignored and also a part of merits of this application,” the court said.
It also said Kapoor is an accused in other pending cases and is not likely to be released in the near future so the issue of absconding does not arise. Kapoor was arrested in 2020 in connection with the Yes Bank loan alleged fraud case.