In its latest findings on the Yes Bank fraud case, the Central Bureau of Investigation (CBI) revealed that a ₹4,733 crore loan given by Yes Bank to Dewan Housing Finance Corporation Ltd (DHFL) was misused and funneled to a group of Mumbai builders. These builders, who had existing unpaid loans with Yes Bank, allegedly did not fulfill commitments to property buyers, despite having received partial or full payments.
The CBI’s recent supplementary charge sheet lists 41 individuals and companies involved, including Indiabulls Housing Finance and builders Shahid Balwa, Vinod Goenka, Avinash Bhosale, and Sanjay Chhabria. The agency claims Yes Bank’s cofounder, Rana Kapoor, approved these loans to DHFL in exchange for a ₹600 crore kickback, funneled as loans to companies linked to his family, as noted in court documents.
According to the CBI, these loan transactions took place between 2009 and 2017.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
