CBI books two Delhi-based companies, others for causing alleged loss to Yes Bank

The Central Bureau of Investigation (CBI) on Wednesday registered a case against two Delhi-based private companies and others, including directors and promoters of the companies, for allegedly causing a loss of Rs 466.51 crore to Yes Bank in 2017-19.

"A case against two private companies based at Gurugram/Delhi and others including its directors/promoters and unknown persons of private companies/bank officials for causing an alleged loss of Rs. 466.51 crore (approx) to Yes Bank has been registered," CBI said.

It was alleged that the private company based at Gurugram/Delhi had availed term loan facility of approximately Rs. 515 crore from Yes Bank Limited in December 2017, which was declared a non-performing asset (NPA) on October 30, 2019.

Further, the borrower was allegedly declared 'Red Flagged Account' on March 6, 2020, on the basis of Early Warning Signals (EWS).

"It was also alleged that the accused, including the said private company and its holding company, including its directors, promoters and others committed breach of trust, cheating, criminal conspiracy, forgery for diversion and misappropriation of the public money during the period from 2017 to 2019, thereby causing loss to the tune of Rs. 466.51 crore (approx) to Yes Bank," CBI said.

The CBI has recovered incriminating documents and digital evidence during their search at 14 locations including Delhi-NCR, Secunderabad, and Kolkata.

The investigation is underway.

( With inputs from ANI )