CBI chargesheets Anil Ambani, Rana Kapoor in ₹2,796-cr corruption case

INVESTIGATION REVEALS ALLEGED MISUSE OF PUBLIC FUNDS

- NARESH BISWANI

The Central Bureau of Investigation (CBI) on Thursday submitted chargesheets in two cases connected with bogus transactions between Anil Ambani group companies — Reliance Commercial Finance Ltd (RCFL) and Reliance Home Finance Ltd (RHFL) — and Yes Bank, as well as entities belonging to the Rana Kapoor family, then Managing Director and CEO of Yes Bank.

The CBI said as per its investigation, the investigation has revealed a conspiracy where Rana Kapoor misused his position to funnel huge public funds of Yes Bank into financially strained firms of the Anil Dhirubhai Ambani (ADA) Group. As a quid pro quo, ADA Group is believed to have provided concessional loans and investments in firms owned by Kapoor's wife, Bindu Kapoor, and daughters, Radha and Roshni Kapoor.