According to sources, the Central Bureau of Investigation, or CBI, has filed charges against former Yes Bank founder Rana Kapoor in the Rs 466.52 core bank fraud case. Along with Kapoor, the CBI charged private company Oyster Buildwell Private Limited and Avantha Group Chairman Gautam Thapar on Monday.
The CBI filed a FIR on June 2 of last year, alleging that the accused had, between 2017 and 2019, engaged in criminal forgery, cheating, criminal conspiracy, and breach of trust in order to divert public money.
‘It was found during the investigation that the borrower company had availed credit facilities from Yes Bank Limited and diverted the same to its holding company and other group companies, which were in financial stress and where direct lending by any bank would not have been feasible,’ in a statement, the CBI said.
In a conspiracy involving Rana Kapoor and other people, Gautam Thapar was responsible for the fraudulent transaction that resulted in the loss of public money totaling Rs 466.51 crore. According to sources, the investigation showed Thapar’s participation. The CBI and the Enforcement Directorate, or ED, earlier arrested Rana Kapoor in connection with the Yes Bank fraud investigation.
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