CBI files second FIR against Yes Bank founder Rana Kapoor and others
The Central Bureau of Investigation (CBI) has taken another legal action against Rana Kapoor, the founder and former MD and CEO of Yes Bank, along with his wife Bindu Kapoor, Gautam Thapar from Avantha Group, and others. They are facing charges of cheating, forgery, and corrupt practices. The CBI has accused Rana Kapoor and his associates of conspiring to obtain a bungalow located in New Delhi's Amrita Shergill Marg at a much lower price than its actual value. The property was allegedly purchased through Bliss Abode, a company where Bindu Kapoor held a directorial position, by paying a mere Rs 378 crore. Soon after, the property was mortgaged to IndiaBulls Housing Finance Ltd for a loan of Rs 685 crore.
According to sources, the Amrita Shergill Marg bungalow originally belonged to Gautam Thapar. It is claimed that Thapar mortgaged the property to secure a loan from Yes Bank. However, he later defaulted on the loan, leading the bank to decide on selling the mortgaged property. Interestingly, the minimum bidding price was set at Rs 379 crore. It is alleged that Bindu Kapoor's firm, Bliss Abode, purchased the property for Rs 380 crore. Investigators suspect that this transaction involved a kickback, where expensive real estate was acquired for a fraction of its actual worth.
Additionally, Avantha Realty, an associated company, reportedly obtained a loan of Rs 500 crore from Yes Bank. Instead of following the prescribed procedures mandated by the Reserve Bank of India (RBI) to recover the loan, Yes Bank allegedly sold the property to Bindu Kapoor's firm at an unusually low price of Rs 380 crore.
In connection with the investigation, the CBI is conducting searches at various locations in Mumbai and Delhi-NCR, including premises linked to Rana Kapoor, Bindu Kapoor, Avantha Realty, and Bliss Abode. The agency aims to gather more evidence and uncover the truth behind these allegations of financial irregularities.
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