NEW DELHI: The Central Bureau of Investigation (CBI) on Monday filed a charge sheet against Rana Kapoor, the then MD & CEO, of Yes Bank; Gautam Thapar, chairman of Avantha Group and Gurgaon-based company Oyster Buildwell, for causing an alleged loss of `. 467 crore to Yes Bank.
CBI had in June 2021 registered a case against Oyster Buildwell and others on a complaint from Yes Bank. The bank in its complaint has accused Oyster Buildwell, a Gurgaon-based company of Avantha Group, of misrepresentation of the purpose of funding and diversion of loan extended to it for repayment of debt of other group companies.
During its investigation, the CBI found that Oyster Buildwell had availed credit facilities from Yes Bank and diverted the same to its holding company – Avantha Realty and other group companies -- which were in financial stress and where direct lending by any bank would not have been feasible.
Avantha Realty holds 97.9 per cent and Gautam Thapar holds 2 per cent in Oyster Buildwell. It was alleged that the loan availed by Oyster Buildwell was to be used as a security deposit to Jabhua Power for operations and maintenance to be done in the plant.
However, it later came to light that Jhabua Power, also an Avantha Group company, had granted loans from the security deposit made by Oyster Buildwell to other group companies.