The CBI has filed a chargesheet against former Yes Bank Managing Director and CEO Rana Kapoor, his wife Bindu and Avantha Group company promoter Gautam Thapar in connection with an alleged loan scam of over Rs 1,700 crore, officials said on Friday.
In a chargesheet filed before a special CBI court in Mumbai, the central probe agency has alleged that Kapoor abused his official position and built a 1.2-acre uber-luxe bungalow at 40 Amrita Shergill Marg at a price much below the actual market value. Achieved it. .
The CBI, in its FIR, had alleged that the assets were mortgaged to Yes Bank against a loan of Rs 400 crore by the Avantha Group.
“It was also alleged that the actual value of the property was around Rs 550 crore which was acquired by the then MD and CEO of Yes Bank at a value of about Rs 378 crore and the sale proceeds were used solely to liquidate the existing was not done. The loan, later declared as NPA by the bank,” said CBI spokesperson RC Joshi.
The property was reportedly purchased in the name of a company Bliss Abode Pvt Ltd, where Kapoor’s wife Bindu was one of the directors and authorized signatories.
“It was further alleged that against this party, the then MD & CEO (Kapoor) of Yes Bank Ltd., during the acquisition of the said assets and subsequently to other companies of the said promoter/director (Thapar) has been paid an amount of about Rs 1360 crore. given additional credit. Joshi said.
The CBI said these loans were never utilized for the purpose for which they were granted and the borrowers were allowed to divert funds for perpetuity of the existing loans of the group companies.