Central Bureau of Investigation (CBI) has filed a case against Rana Kapoor, former Managing Director and CEO of Yes Bank. Rana Kapoor is also the founder of Yes Bank. Apart from Rana Kapoor, case has also been filed against Bindu Rana, wife of Rana Kapoor , Gautam Thapar (Promoter, Avantha Group companies) and unknown people.
The case has been filed under IPC Sections 120 B and 420 and Sections 7,11 and 12 of PC Act.
Rana Kapoor faces an allegation that he conspired with others mentioned in the FIR to obtain a bungalow in New Delhi as illegal gratification. It is alleged that the bungalow on Amrita Shet Gill Marg was acquired through M/s Bliss Abode pvt ltd. where Rana Kapoor's wife was one of the directors.
The bungalow was acquired at a price of Rs 378 crore.
This property was then immediately mortgaged to Indiabulls Housing Finance Ltd for a loan of Rs. 685 crore (approx)
Rana Kapoor is currently in Enforcement Directorate (ED) custody till March 16. He was arrested on charges of money laundering.
Yes Bank is currently under moratorium by Reserve Bank of India and depositors face a maximum cap of withdrawal from their own accounts.
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