CBI registers case against ex-MD of Yes Bank Rana Kapoor, others

New Delhi [India], Mar 14 (ANI): The Central Bureau of Investigation (CBI) on Friday registered a case against Rana Kapoor, former MD and CEO of Yes Bank; Gautam Thapar, Promoter of Avantha Group companies; Bindu Rana, Director of Bliss Abode and unknown others.

The case has been registered under section 120 B and 420 of IPC and Section 7, 11 & 12 of Prevention of Corruption Act, 1988.

It was alleged that Rana Kapoor conspired with other the other accused to obtain illegal gratification in the form of a bungalow at Amrita Shergill Marg, New Delhi by paying only around Rs 378 crore through Bliss Abode Pvt Ltd, where Rana's wife was one of the two directors.

This property was immediately thereafter mortgaged to India Bulls Housing Finance Ltd for a loan of around Rs 685 crore. It was further alleged that much less consideration than the market value was paid to Avantha Realty Ltd for relaxation in other existing loans of Avantha Group of companies and for advancing new loans to the organisation.

CBI conducted searches in Mumbai, Delhi/NCR at the premises of the accused. (ANI)