Mumbai court denies bail to businessman in ₹1,000 crore fraud
MUMBAI: A Mumbai court has rejected the anticipatory bail plea of businessman Sudhir Valia, who is implicated in a Rs 1,000-crore financial fraud involving Yes Bank. The court ruled that the charges are serious and that Valia’s custodial interrogation is necessary. Rana Kapoor, co-founder of Yes Bank, is also among those accused in the case. Additional Sessions Judge Anil D. Salunkhe stated, “The seriousness of the alleged economic fraud involving the applicant (Valia) in collusion with Yes Bank officials necessitates custodial interrogation.” The Economic Offences Wing (EOW) of the Mumbai Police has registered a new FIR targeting Kapoor, Valia, director…