Yes Bank's Costly Investment Decision: The Rana Kapoor and Anil Ambani Saga

Yes Bank, under the helm of co-founder Rana Kapoor, suffered a financial loss of over Rs 2,700 crore due to his unilateral decision to invest in Anil Ambani-led companies, according to a CBI charge sheet. The document alleges fraudulent transactions between the bank and Ambani's group companies.

The CBI filed charges against 13 individuals and entities, including Kapoor, Ambani, and their family members, accusing them of criminal conspiracy, cheating, and corruption. Investigations are ongoing, particularly focusing on Anil Ambani's son, Anmol Ambani, who was then the executive director of Reliance Capital.

The charge sheet outlines financial mismanagement between 2017 and 2019, where Yes Bank invested over Rs 5,010 crore in Anil Dhirubhai Ambani Group's financial entities. Due to these investments, which turned into non-performing assets, Yes Bank could not recover Rs 2,796.77 crore. The probe hints at quid-pro-quo arrangements and misuse of funds through shell companies.