Overview
- Investigators say Yes Bank invested Rs 5,010 crore between 2017 and 2019 in ADA Group financial firms via RHFL NCDs (Rs 2,965 crore) and RCFL commercial papers (Rs 2,045 crore).
- By December 2019, Rs 3,337.5 crore had turned non-performing, with the CBI estimating a loss of Rs 2,796.77 crore to the bank.
- The charge sheet describes unilateral decisions by Rana Kapoor after private meetings with Anil Ambani, including instructions to initiate large NCD subscriptions in October 2017 and to seek higher borrower limits.
- The CBI alleges a quid-pro-quo that benefited companies linked to Kapoor’s family, citing Rs 570 crore in concessional loans and a Rs 60 crore Bliss House facility at 9% interest, plus routing through ADA shell entities.
- Thirteen people and entities are named as accused, further inquiry into Anmol Ambani is ongoing, court cognizance is pending with a hearing listed for November 14, and the accused have denied wrongdoing while Kapoor remains on bail.