Mumbai: An amount of Rs. 300 crores, which had originated from Yes Bank, was diverted by builder Avinash Bhosale, accused in Yes Bank-DHFL fraud case, to acquire a property at 5 strand, London.
The prime property located near Trafalgar Square in central London is valued at 92.5 million British pounds, a CBI chargesheet states.
The Rs. 300 crores was a part of the cumulative Rs. 569 crores that Bhosale’s companies had received. His companies have also been named as accused in this supplementary chargesheet. The amount, the agency says, emanated from Dewan Housing Finance Corporation Limited which, in turn, had received funds from Yes Bank. The amount was received in three different modes - kickbacks received as consultancy fees, funds received from DHFL as loans without appraisal or security or as repayment by Radius Group concerns of Sanjay Chhabria, a co-accused.
The London property, the chargesheet says, was acquired through a company floated for the purpose in the UK - Flora Developments Ltd. The purchase was financed through a loan of 70 million British pounds sanctioned by founder and then Yes Bank head Rana Kapoor through Yes Bank to the UK company in April 2018, it is stated. Rana Kapoor and his family members are accused in the case. “It may be mentioned that apart from the said payments, an amount of GBP 70 million (Rs. 700 crores approx) was also remitted by Yes Bank directly to the UK for acquisition of the property,” the chargesheet stated.
Bhosale, chairman and founder of ABIL Group, was arrested on May 26 this year and is at present in judicial custody. Another builder, Satyan Tandon, also accused of diversion in the case, is named along with his two companies in the supplementary chargesheet. Tandon was granted bail recently.
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