October 20, 2021

CBI file charge sheet against Rana Kapoor, wife in Rs 1,700-crore loan scam, Real Estate News, ET RealEstate

NEW DELHI: The CBI has filed a charge sheet against former Yes Bank managing director and CEO Rana Kapoor, his wife Bindu and promoter of Avantha Group Company Gautam Thapar in connection with an alleged loan scam of over Rs 1,700 crore, officials said on Friday.

In the charge sheet filed before a special CBI court in Mumbai, the central probe agency has alleged that Kapoor abused his official position and acquired a 1.2-acre uber-luxe bungalow at 40 Amrita Shergill Marg at a very less price than the actual market value.

In its FIR, the CBI had alleged that the property was mortgaged to Yes Bank against a loan of Rs 400 crore by Avantha Group.

“It was also alleged that the actual value of the property was approximately Rs 550 crore which was acquired by then MD and CEO of Yes Bank at a value of around Rs 378 crore and the proceeds of the sale was not used fully to liquidate the existing loan, later declared NPA by the bank,” CBI…

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