A special lockdown court in the sessions court in Mumbai on April 3 rejected the interim bail plea of Yes Bank founder Rana Kapoor, who is currently in judicial custody on money laundering charges.

Kapoor, 62, had sought bail claiming that his prevailing medical condition puts him at the risk of contracting coronavirus infection in Taloja prison.

In the plea filed through his lawyer Subhash Jadhav, he claimed that he was suffering from chronic immunodeficiency syndrome, which causes recurrent lung, sinus and skin infections. He also claimed to be suffering from severe hypertension, anxiety and depression since the last 18 months.

This, combined with his history of longstanding bronchial asthma since childhood, puts him at the high risk of a severe lung infection, which can lead to death, the bail plea said.

The application further said that the present situation of coronavirus can lead to a severe lung infection and death as the disease is more likely to affect those above sixty years of age, with low immunity and long-standing respiratory problem.

The court, after hearing Kapoor’s lawyer, the special public prosecutor and perusing the medical certificates submitted by the Taloja jail authorities, refused to grant interim relief, saying the investigation is at an ‘initial stage’.

The court said that Kapoor is “not suffering from any disease that is dangerous to his life. “The jail authorities are in a position to look after the COVID-19 emergency. Under such circumstances, there is no need to consider the application at this juncture.”

Kapoor was arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) last month.

According to the ED, loans of Rs 30,000 crore were given by Yes Bank when Kapoor was at its helm, and of these, advances of Rs 20,000 crore turned into bad loans.

The ED has accused that Kapoor, his family members and others got benefits worth Rs 4,300 crore through companies controlled by his family as kickbacks for sanctioning huge loans.

He is also accused of receiving bribes for going easy on loans given to a few big corporate groups that had turned into non-performing assets (NPAs).

Meanwhile, the same sessions court granted temporary bail to two former officials of the IL&FS (Infrastructure Leasing & Financial Services). Ramesh Bawa, who was MD of IL&FS Financial Services, and Hari Shankar, who was a former Vice-Chairman at IL&FS, got a 75-day bail on medical grounds, including potential threat from coronavirus.

The duo was arrested by the Serious Fraud Investigation Office (SFIO) in April last year while probing the IL&FS payment default crisis.

Bawa’s lawyer said he suffers from various diseases and is an old person. The prosecution opposed the plea, saying his offence was ‘serious’. The court, however, granted bail, considering the fact that he was arrested ‘long’ ago and the prevailing situation due to COVID-19.

Shankar’s lawyers too argued that he is old, suffers from various ailments, was arrested ‘long’ ago and that the probe has been completed. The prosecution opposed the plea, saying his ailments are not ‘life threatening’. The court granted bail, considering the applicant’s advanced age, his ailments, stage of the probe and the situation created by coronavirus.