Mumbai, July 25 The Central Bureau of Investigation (CBI) on Monday filed its supplementary charge sheet in connection with the Rs 3,700 crore Yes Bank-DHFL loan fraud case.
"A supplementary charge sheet has been filed today against Avinash N. Bhosale, Satyan Gopaldas Tandon, Metropolis Hotels LLP, ABIL Infraprojects Pvt Ltd, ABIL Hospitality Pvt Ltd, Arindam Developers LLP, Avinash Bhosale Group and Flora Developments Ltd," the CBI said.
The federal probe agecny had arrested Sanjay Chabaria of Radius Developers, in May. Radius Developers took loan of Rs 3,000 crore from Dewan Housing Finance Ltd (DHFL) on the pretext of financing a project in Mumbai.
"Bhonsle, Goenka and Balwa were allegedly used their firms to channel money of the loan. Hence their premises were also raided," the CBI had said.
In March 2020, a case of loan fraud of Rs 3,600 crore was lodged by the CBI against Rana Kapoor, the promoter Director and CEO of Yes Bank for entering into a criminal conspiracy with Kapir wadhawan, the promoter Director of DHFL and others.
Financial assistance was extended to DHFL by Yes Bank in lieu of substantial undue benefit to himself and his family members through the companies held by them.
Between April to June 2018, Yes Bank Ltd invested Rs 3,700 crore in the short term debentures of DHFL. Simultaneously, Wadhawan paid a kickback of Rs 600 crore to Kapoor and his family members in the garb of builder loan of Rs 600 crore given by DHFL to DOIT Urban Ventures (India) Pvt Ltd, a wholly owned subsidiary of RAB Enterprises (India) Pvt Ltd in which Bindu Kapoor, the wife of Kapoor, is a director and 100 per cent shareholder.
Kapoor's daughters - Roshini Kapoor, Radha Kapoor Khanna, and Raakhe Kapoor Tandon were 100 per cent shareholders of DOIT Urban Ventures (India) Pvt Ltd through Morgan Credits Pvt Ltd.
It was learnt that loan of Rs 600 crore was sanctioned by DHFL to DOIT Urban Ventures on the basis of a mortgage of a sub-standard property having very meagre value and by considering its future conversion from agricultural land to residential land.
It was also learnt that DHFL had not redeemed the amount of Rs 3,700 crore invested by Yes Bank in its debentures till date. In addition to the above, Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd - a DHFL group company - for their Bandra Reclamation Project.
The whole amount was siphoned off by Wadhawan since the entire amount was transferred by RKW Developers to DHFL without making investment in the Bandra project for which the loan was sanctioned. Thus, Kapoor obtained undue pecuniary advantage from DHFL through the companies held by his wife and daughters. It was also learnt that Kapoor had obtained illegal kickbacks directly or indirectly through entities controlled by him or his family members
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