Mumbai's special PMLA court has rejected the bail petition of Yes Bank founder Rana Kapoor, who is an accused in a multi-crore fraud at the bank.

Special judge PP Rajvaidya rejected Kapoor's plea that the investigation in the case is complete, hence there is no reason to keep him in jail. The banker, currently in judicial custody, was arrested in March under provisions of the Prevention of Money Laundering Act.

The Enforcement Directorate is primarily investigating Kapoor, his wife and three daughters over an alleged receipt of 600 crore rupees from an entity linked to the scam-hit Dewan Housing Finance Limited.