Gurugram/Face2News

The Central Bureau of Investigation has today filed a chargesheet against the then MD & CEO, Yes Bank Limited, Chairman of a Private Group and private company before the Competent Court for causing an alleged loss of Rs. 466.51 Crore (approx) to Yes Bank.

CBI had registered the instant case on 02.06.2021 against Gurgaon(Haryana) based private company and others on complaint from Yes Bank Limited. It was alleged that the company, in connivance with others, had committed criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/misappropriation of the public money, during the period from 2017 to 2019.

Searches were earlier conducted on 05.06.2021 at several locations including official /residential premises of accused which led to recovery of documents and digital evidence etc.

CBI had registered the instant case on 02.06.2021 against Gurgaon(Haryana) based private company and others on complaint from Yes Bank Limited. It was alleged that the company, in connivance with others, had committed criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/misappropriation of the public money, during the period from 2017 to 2019.

It was found during investigation that the borrower company had availed credit facilities from Yes Bank Limited and diverted the same to its holding company and other group companies, which were in financial stress & where direct lending by any bank would not have been feasible.

Role of said accused came to light during investigation who, in conspiracy with each other, were instrumental for the fraudulent transaction which led to the loss of public money to the tune of Rs. 466.51 Crores.

Further investigation is continuing against the role of other persons.