Kapoor, his wife Bindu and her company Bliss Abode Pvt Ltd have also been booked by the CBI for taking bribe in the purchase of a bungalow.
Mumbai| The Central Bureau of Investigation (CBI) has booked former Yes Bank CEO Rana Kapoor and his wife in case of accepting a bribe in the purchase of a bungalow from a realty firm. Rana allegedly went easy on 1,900 crore loan of the seller’s group companies, officials said on Friday.
Kapoor, his wife Bindu and her company Bliss Abode Pvt Ltd have also been booked by the CBI for taking bribe in the purchase of a bungalow.
Avantha Realty Ltd and Gautam Thapar, the promoter of Avantha Group, which sold the bungalow have also been booked by the CBI in the alleged bribery case.
Indiabulls Housing Finance, however, has said that no CBI raids have been carried out on Indiabulls office or any other offices of the firm.
Company Secretary Amit Jain said, “CBI raids have happened on Yes Bank/Rana Kapoor who have their offices in Indiabulls Finance Centre in the capacity of a tenant.” CBI has informed that raids have been conducted in Indiabulls Housing Finance ltd office in Delhi.
The case involves 1.2-acre uber-luxe bungalow located at 40, Amrita Shergill Marg. Avantha group had mortgaged the bungalow to ICICI bank and DCB bank at Rs 550 crore, of which Rs 380 crore was outstanding in March 2016.
The Yes Bank offered a loan of Rs 400 crore as Lease Rental Discounting (LRD) in which discounted values of future lease rentals proposed to be received by the borrower by leasing its property are sanctioned as a loan amount.
Avantha Realty (ARL) allegedly entered in a sham lease agreement with a group company to justify the high loans. ARL entered in the agreement with BILT Graphics Paper Pvt Ltd at a Rs 65 crore per annum with five per cent yearly escalation.
The FIR filed by CBI says, “It was essentially a sham agreement entered into with an intention to defraud and cheat Yes Bank Ltd for justifying loan of Rs 400 crore to ARL for the purpose of acquiring the property by Bindu Kapoor who was a director in Bliss Abode Pvt Ltd.”
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