The transaction was through Bliss Abode, a company which is now an accused in the fresh case and in which Bindu Kapoor is one of the two directors.
And in exchange Kapoor disbursed Rs 1,900 crore as loan from YES Bank
to Thapar’s Avantha Realty and other group companies, the CBI said.
The central agency on Friday carried out searches at the residence and offices of Rana Kapoor
and his wife in Mumbai, the premises of Bliss Abode, and the offices of Avantha Realty in Delhi and the National Capital Region, said the CBI.
Explaining the details of the transaction, the CBI alleged Kapoor bought the bungalow at Rs 378 crore, paying through Bliss Abode, adding that it was mortgaged to Indiabulls Housing Finance
(IBHFL) for a loan of Rs 685 crore.
Loan agreements were executed between Bliss Abode and IBHFL later on October 5, 2017. Kapoor is shown as a co-borrower in all these loan agreements.
Further, the CBI alleged this loan transaction with IBHFL was not disclosed by Kapoor to the board of YES Bank.
“… There was a situation of conflict of interest and related party transaction and a clear violation of the Bank's code of conduct as well as the provisions of the Companies Act, 2013,” the CBI said.
The agency has alleged the property was mortgaged to ICICI Bank, and then released in favour of YES Bank through a loan of Rs 400 crore given to Avantha Realty.
In June 2017, Rana Kapoor
persuaded Avantha Realty to sell this property to Bliss Abode in return for the favours given to the Avantha group
and extending another Rs 1,165 crore as loan to the group companies even when the existing loans were under stress, it added.
Meanwhile, the Enforcement Directorate
has identified further investment of Kapoor and his family in hotels in the UK and the US.
According to the officials, Kapoor invested Rs 348 crore in hotel projects in New York and London.