The Economic Offences Wing (EOW) of Delhi Police has registered a case against Naray Investment Private Limited for an alleged financial fraud worth Rs 300 crores in connection with a loan from Yes Bank, officials said on Saturday.
According to officials, Naray Investment is accused of siphoning, embezzlement and forgery of bank loan amounting to around Rs 300 crore.
This comes as Yes Bank is entangled in scam and money laundering cases, which are being probed by the Central Bureau of Investigation (CBI) and the Enforcement Directorate respectively.
According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank founder Rana Kapoor invested Rs 3,700 crore in short-term debentures of the DHFL.
In return, the Wadhawans allegedly paid kickbacks of Rs 600 crore to Kapoor and his family members in the form of loans to DOIT Urban Ventures (India) Pvt Ltd held by the latter's wife and daughters, the CBI has claimed.
Earlier this year, the Reserve Bank of India (RBI) had suspended the board of directors at India's fourth-largest private bank and imposed the withdrawal limit on account holders till April 3 citing its poor financial health due to bad loans.
( With inputs from ANI )
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