Rana Kapoor is currently in Enforcement Directorate custody till March 16.
The Central Bureau of Investigation (CBI) has registered a fresh case against crisis-hit Yes Bank's founder Rana Kapoor and his wife Bindu Kapoor in connection with the purchase of a property in a prime location in Delhi. The house was bought by Ms Kapoor.
This is the second case filed by the CBI against the couple within a week following the Yes Bank crisis.
"Bindu Kapoor had bought the prime property at Delhi's Amrita Shergill Marg in the name of her company Bliss Abode Limited on account of a loan default by Avantha Realty with Yes Bank," the CBI alleges. The plush bungalow, spreading over 1.2 acres, was bought at a discounted price by Ms Kapoor, the CBI suspects.
Sources add that Yes Bank had loaned around Rs 400 crore to Avantha Realty, but after Avantha Realty defaulted, instead of recovering the loan, they sold the property for a mere Rs 380 crore to Bindu Kapoor's firm. An inquiry has revealed that India Bulls Housing Finance had sanctioned the loan of Rs 380 crore to Bindu Kapoor's firm which was used to buy this property.
Bliss Abode paid much less than the market value to Avantha group for alleged relaxation in other existing loans to the group companies and for advancing new and additional loans, sources said.
Yes Bank had already sanctioned credit facilities to Avantha Group of companies to the tune of Rs 2500 crore and most of it was already under stress when Yes Bank sanctioned Rs 400 crore loan mortgaged on this property by Avantha Reality.
The CBI FIR also states that earlier Avantha Reality had pledged this property with ICICI bank in March 2016 and the said property was valued for s 550 crore.
Avantha Realty is promoted by Gautam Thapar, who has also been charged by the CBI.
CBI has registered a case against Gautam Thapar, Rana Kapoor and his wife Bindu in a fresh case of alleged criminal conspiracy and cheating, officials said. They are conducting searches at the premises of Rana and Bindu Kapoor, India Bulls Housing Finance, Bliss Abode and Avantha Realty in Delhi and Mumbai.
Rana Kapoor, his wife and three daughters are among 13 accused named by the CBI in a spiralling investigation into bribery and money-laundering linked to Yes Bank, India's fourth largest private lender. Several raids were conducted in locations linked to the family and Rana Kapoor was arrested last Sunday. He is currently in Enforcement Directorate custody till March 16.