MUMBAI: A sessions court on Thursday denied anticipatory bail to businessman Sudhir Valia, a director of Suraksha Asset Reconstruction Ltd, in a ₹1,000-crore fraud case that also involves former Yes Bank managing director and chief executive Rana Kapoor, holding that the gravity of the allegations warranted custodial interrogation. Court denies pre-arrest bail to businessman Sudhir Valia in ₹1,000-cr loan fraud case Additional sessions judge Anil D. Salunkhe held that the allegations pointed to a serious economic offence and that the investigation material did not indicate the case had been falsely registered. “Considering the seriousness of the alleged economic fraud committed by the applicant with collusion of the officials of YES bank and its consequences, the custodial interrogation of the applicant is essential,” the court said while refusing pre-arrest protection. The case stems from an FIR lodged by Lakhminder Singh, a suspended director of HDIL-linked Sapphire Land Development Pvt Ltd. According to the complaint, Valia, Kapoor, Yes Bank officials, and other executives of Suraksha ARC conspired to transfer a ₹150-crore loan account and acquire mortgaged assets …