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New Delhi [India], October 8 (ANI): The Central Bureau of Investigation (CBI) on Friday filed a chargesheet against former MD and CEO of Yes Bank Ltd Rana Kapoor and others including his wife.
The accused named in the charge sheet have been identified as Rana Kapoor, (then MD and CEO of Yes Bank), Gautam Thapar (Promoter of Avantha Group Company), Avantha Reality Ltd, Bindu Rana Kapoor (Director of Bliss Abode Pvt Ltd.) and Bliss Abode Pvt Ltd.
In March last year, the CBI had registered a case where it was alleged that then MD and CEO of Yes Bank had abused his official position and acquired a Delhi Lutyens property at a very less price than the actual market value.
It was further alleged that the property was mortgaged to Yes Bank against a loan of Rs 400 crore (approx) given to a group company (private) promoted by the said Promoter, charge-sheeted in this case.
It was also alleged that the actual value of the property was Rs 550 crore (approx) which was acquired by then MD and CEO of Yes Bank at a value of Rs 378 crore (approx) and the proceeds of the sale was not used fully to liquidate the existing loan, later declared NPA by the Bank. The property was allegedly purchased in the name of a company where the wife of said then MD and CEO of Yes Bank, was the Director and authorized signatory.
It was further alleged that against this favour, then MD and CEO of Yes Bank Ltd extended an additional loan of Rs 1360 crore (approx) to other companies of said Promoter/Director during & after the acquisition of the said property. It was also alleged that these loans were never utilized for the purpose for which they were given and the borrowers were allowed to divert the funds for evergreening of the existing loans of the group companies. (ANI)