Former Yes Bank co-founder Rana Kapoor faces fresh fraud charges. Mumbai Police have registered an FIR against Kapoor, investor Sudhir Valia, and unnamed bank officials over an alleged one thousand crore rupee fraud involving improper loan assignment and undervalued asset sales. The case stems from a September 2016 credit facility granted to a real estate subsidiary, with collateral properties valued near one thousand crore rupees. Authorities allege the bank transferred recovery rights prematurely to an asset reconstruction company without proper NPA classification or independent asset valuation. The complaint claims a fifteen percent margin of twenty-two point five crore rupees was withheld and routed through trust accounts, resulting in mortgaged assets being sold at heavily discounted rates.
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