Mumbai Police have registered an FIR against former Yes Bank MD and CEO Rana Kapoor and others for alleged illegal transfer of mortgaged property worth Rs 1,000 crore, an official said on Friday.
The bank transferred a loan of Rs 150 crore to an asset reconstruction company without classifying it as a Non-Performing Asset, the complainant alleged.
The First Information Report was registered at Worli police station against Kapoor, Sudhir Walia, and other bank officials on a complaint filed by Lakhminder Dayal Singh, associated with Saffair Land Development, a sister concern of HDIL.
As per the FIR, another HDIL group company, Privilege Power and Infrastructure, had taken a loan of Rs 300 crore from the Worli branch of Yes Bank in 2015. Due to a financial crisis, Saffair Land Development sought a loan of Rs 150 crore, which was sanctioned by the bank in 2016.
Properties valued at Rs 1,000 crore of HDIL and its group companies were mortgaged with the bank for securing the loan, which​Mumbai Police have registered an FIR against former Yes Bank MD and CEO Rana Kapoor and others for alleged illegal transfer of mortgaged property worth Rs 1,000 crore, an official said on Friday.
The bank transferred a loan of Rs 150 crore to an asset reconstruction company without classifying it as a Non-Performing Asset, the complainant alleged.
The First Information Report was registered at Worli police station against Kapoor, Sudhir Walia, and other bank officials on a complaint filed by Lakhminder Dayal Singh, associated with Saffair Land Development, a sister concern of HDIL.
As per the FIR, another HDIL group company, Privilege Power and Infrastructure, had taken a loan of Rs 300 crore from the Worli branch of Yes Bank in 2015. Due to a financial crisis, Saffair Land Development sought a loan of Rs 150 crore, which was sanctioned by the bank in 2016.
Properties valued at Rs 1,000 crore of HDIL and its group companies were mortgaged with the bank for securing the loan, which ​Latest News [ SOBAN NEWS: International and National ]
