MUMBAI, May 10 -- A special CBI court has granted bail to Ajay Kerkar, former director of Cox & Kings, along with two other executives - Urshila Kerkar and Vanaja Rajan - in a Rs.946.44 crore loan fraud case involving Yes Bank. The order comes nearly two weeks after bail was granted to former Yes Bank CEO Rana Kapoor and five others accused in the same matter. The Central Bureau of Investigation (CBI) has alleged that the executives of Cox & Kings submitted forged balance sheets to secure credit facilities for Ezeego One Travels and Tours Ltd (EOTTL), a group company, despite its poor financial health. The sanctioned funds were then allegedly siphoned off to settle liabilities of the parent company in violation of the loan's purpose. Special CBI judge SH Gwalani, in an order dated May 7, noted that the CBI had not placed any material on record to justify the continued custody of the accused. "Applicant/accused was not arrested by the CBI during the course of investigation till filing of charge sheet," the court observed. The court further remarked that EOTTL had applied for loans by submitting inflated and forged balance sheets. "In pursuance of the criminal conspiracy, false end-use certificates were prepared and submitted to Yes Bank Limited," the judge stated, adding that key officials deliberately diverted the funds to Cox & Kings and related entities. The defence argued that the accused were innocent, had cooperated with the investigation, and were unlikely to abscond or interfere with the judicial process. The court found no apprehension from the prosecution that granting bail would hinder the trial, and accordingly allowed the pleas....