India, May 26 -- A court on Monday didn't pass any order on interim protection sought by businessman Sudhir Valia in an alleged Rs 1,000 crore financial fraud case in which Yes Bank co-founder Rana Kapoor is an accused.

Additional sessions judge YP Manathkar, presiding over the matter, noted that the "allegations made in FIR are serious" and that it is "necessary to consider arguments of both sides in detail before passing any order."

Fearing arrest in the case, Valia has sought anticipatory bail. He had also pleaded for interim protection until his main plea was decided. The matter will be next heard on June 1. The Economic Offences Wing (EOW) of Mumbai police has registered a fresh FIR against Kapoor, Valia, who is director of Suraksh...