India, Feb. 5 -- In a significant development in the Yes Bank money laundering case involving its former managing director and CEO, Rana Kapoor, a special court has discharged Dewan Housing Finance Corporation Limited (DHFL) from the prosecution.

The special PMLA (Prevention of Money Laundering Act) court has held that the company cannot be proceeded against after undergoing insolvency and being taken over by a new management.

The order was passed while allowing a discharge application filed by DHFL in a PMLA case arising out of an enforcement case information report (ECIR) registered by the Enforcement Directorate (ED). The court noted that DHFL had undergone a corporate insolvency resolution process under the Insolvency and Bankruptcy...