The Central Bureau of Investigation in its latest charge sheet in the alleged Yes Bank scam stated that loans of Rs 4,733 crore provided by the lender to erstwhile Dewan Housing Finance Corporation Ltd (DHFL) were diverted to a “coterie of Mumbai-based builders” who had failed to settle their previous liabilities with the private bank.
The federal agency alleged that bank cofounder Rana Kapoor sanctioned these loans in lieu of ₹600 crore received as gratification from DHFL as loans in companies linked to his family members, according to court documents ET has seen.
The CBI recently filed the fresh supplementary charge sheet against 41 accused, including Indiabulls Housing Finance, builders Shahid Balwa, Vinod Goneka, Avinash Bhosale Sanjay Chhabriaa and companies linked to them.
As per the agency, between 2009 and 2017, the accused builders availed of multiple loans from Yes Bank. However, they failed to deliver these properties to buyers who had paid a part or full price.
