NEW DELHI: The Central Bureau of Investigation (CBI) has filed a chargesheet against the then managing director & CEO of Yes Bank Ltd – Rana Kapoor -- and his wife Bindu Kapoor in a loan fraud case also involving promoter of Avantha Group Gautam Thapar. The chargesheet was filed in the Court of Special Judge for CBI cases, Mumbai. The probe agency had filed a case in this regard in March 2020.
According to the chargesheet, Rana Kapoor, as MD and CEO of Yes Bank, had abused his official position and acquired a property in a posh Delhi location at prices lower than the actual market value. The property was mortgaged to Yes Bank Ltd against a loan of Rs 400 crore given to Avantha group promoted by Gautam Thapar. The actual value of the property, according to the chargesheet, was Rs 550 crore, which was acquired by Rana Kapoor for a mere Rs 378 crore.
The chargesheet further alleges that Gautam Kapoor did not use the amount received from the sale of property to fully liquidate the loan, which was later declared a nonperforming asset by the bank. The property was allegedly purchased in the name Bliss Abode Pvt Ltd, where Bindu Kapoor was the director and authorised signatory.
The probe agency has alleged that Yes Bank extended further loans of Rs 1,360 crore to other companies promoted by Gautam Thapar after the Kapoors acquired the said property from Thapar. It has also been alleged that these loans were never utilised 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.
Both Rana Kapoor and Gautham Thapar have been facing multiple charges of frauds and are being probed by multiple agencies including the Enforcement Directorate. Rana Kapoor is also probed for his involvement in the PMC Bank fraud case.