Last Updated on September 19, 2025 12:58 am by INDIAN AWAAZ
Inder Vashisth / New Delhi
The Central Bureau of Investigation (CBI) on Thursday filed a chargesheet against companies linked to industrialist Anil Ambani and former Yes Bank MD & CEO Rana Kapoor, along with Kapoor’s wife Bindu Kapoor and daughters Radha and Roshini Kapoor, in connection with two cases of large-scale fraud and conspiracy.
According to the CBI, investigations revealed that Ambani and Kapoor colluded to siphon off public funds. “Rana Kapoor abused his official position and facilitated the investment of about ₹5,010 crore of Yes Bank’s public funds into financially stressed ADA Group companies. In return, Anil Ambani extended investments and concessional loans to companies owned by Kapoor’s family,” the agency said.
Loss to Yes Bank
The agency stated that these fraudulent transactions caused a loss of nearly ₹2,796.77 crore to Yes Bank, while ADA Group firms and entities owned by Kapoor’s family gained unlawful benefits.
In 2017, under Kapoor’s approval, Yes Bank invested around ₹2,045 crore in Reliance Commercial Finance Ltd (RCFL) and about ₹2,965 crore in Reliance Home Finance Ltd (RHFL) through non-convertible debentures and commercial papers. This was despite CARE Ratings having placed these companies under “watch” due to their worsening financial health. The funds were later siphoned off through various means.
Entities Involved
The chargesheet names Anil Ambani, Rana Kapoor, Bindu Kapoor, Radha Kapoor, Roshini Kapoor, RCFL, RHFL (now Authum Investment & Infrastructure Ltd), RAB Enterprises, Imagine Estate, Bliss House, Imagine Habitat, Imagine Residence, and Morgan Credits Pvt Ltd as conspirators under provisions of the Prevention of Corruption Act and the Indian Penal Code (IPC).
CBI further revealed that under Ambani’s instructions, Reliance Nippon Mutual Funds invested ₹1,160 crore in debentures of Morgan Credits Pvt Ltd in 2017–18. The fund also purchased ADA Group debentures worth ₹249.80 crore from Yes Bank and invested ₹1,750 crore in Yes Bank’s high-risk Additional Tier-1 (AT1) bonds, which had no fixed maturity and could be written off during crises.
Case Background
The matter came to light in 2022 after a complaint filed by Yes Bank’s Chief Vigilance Officer, leading to two criminal cases against Rana Kapoor, RCFL, RHFL, and others.
“The chargesheet establishes a criminal conspiracy that defrauded Yes Bank and caused significant loss to public money while providing unlawful enrichment to the accused,” the CBI said.