CBI files chargesheet against former MD and CEO of Yes Bank

New Delhi, Oct 8: The Central Bureau of Investigation (CBI) filed a chargesheet against former MD and CEO of Yes Bank Rana Kapoor, his wife Bindu and promoter of a private company in the alleged loan fraud case in the court of Special Judge for CBI cases in Mumbai, the agency said on Friday.
Besides, the chargesheet was also filed against private companies in the case.
CBI had registered a case on March12 last year. It was alleged that the then MD and CEO of Yes Bank had abused his official position and acquired a Delhi Lutyens property at a very less price than the actual market value, said CBI.
The property was mortgaged to Yes Bank Ltd. against a loan of Rs 400 crore given to a group company (private) promoted by the said promoter, according to chargesheeted.
It was also alleged that the actual value of the property was Rs 550 crore which was acquired by then MD and CEO of Yes Bank at a value of Rs 378 crore and the proceeds of the sale was not used fully to liquidate the existing loan, later declared NPA by the Bank. The property was allegedly purchased in the name of a company where the wife of said then MD and CEO of Yes Bank, was the director and authorized signatory, said CBI.
As per CBI statement, it was alleged that against this favour, then MD and CEO of Yes Bank Ltd. extended additional loan of Rs 1360 crore to other companies of said promoter, director during and after the acquisition of the said property. It was also alleged that these loans were never utilized for the purpose for which they were given and the borrowers were allowed to divert the funds for ever greening of the existing loans of the group companies. After investigation, CBI filed the chargesheet. UNI