A fresh case against Yes Bank founder Rana Kapoor and his wife Bindu Kapoor as well as Avantha Realty promoter Gautam Thapar is likely to be filed by the Enforcement Directorate (ED). The case is likely to be filed in connection with the alleged suspicious deal between Avantha Realty and Bliss Abode Pvt Ltd, where Kapoor's wife is one of the directors.
Through the deal, Bindu Kapoor acquired a mansion located at Amrita Shergil Marg in Delhi for Rs 378 crore. The said value of the property was much higher but was acquired by Bliss Abode for a lower price and then mortgaged to Indiabulls Housing Finance Ltd for Rs 685 crore. It is being alleged that Kapoor who paid a lesser value for the mansion to Avantha Realty in return allegedly gave relaxation to other existing loans of the realtor at Yes Bank. Additionally, Kapoor has been alleged of extending further loans to Avantha Realty during his tenure.
ED officials also pointed on Monday to the PMLA court that even before the property was acquired by Bliss Abode, it was mortgaged with Indiabulls Housing Finance. Additional Solicitor General Anil Singh who appeared for the ED said that much before the acquisition of the bungalow by Bindu Kapoor's firm in September 2017, they had borrowed a loan of Rs 90 crore from IndiaBulls in July 2017 against the same property. Rana Kapoor through the company owned by his wife Bindu Kapoor's firm Bliss Abode Pvt Ltd bought the bungalow from Yes Bank. The property was initially mortgaged with ICICI Bank, then with Yes Bank. Around Rs 400 crore were borrowed from Yes bank and paid to ICICI Bank for the loan on the property.
The Central Bureau of Investigation (CBI) had also on March 13 registered a fresh case against Kapoor, Gautam Thapar, Bindu Rana and unknown others for the same deal. The case by CBI was registered under sections 120 B and 420 of IPC and Section 7, 11 and 12 of PC Act, 1988. CBI on March 13 had conducted searches in Mumbai, Delhi-NCR at the premises of the accused including Rana Kapoor, Bindu Kapoor, offices of Avantha Realty, Bliss Abode and other private companies suspected to be involved.