GAUTAM THAPAR Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) This is an Application under sec. 439 of Cr.P.C. filed by the aforesaid Applicant who is facing trial in Special Case No.101233 of 2021 pending on the file of Special Judge (CBI), Greater Bombay for offences punishable under Sec. 120(B) and 420 of the Indian Penal Code and Sec. 12 r/w. Sec. 11 r/w. Sec. 13(2) r/w. Sec. 13(1) (d) of Prevention of Corruption Act, 1988.

(2.) Heard Mr. Mahesh Jethmalani, learned Senior counsel for the Applicant, Mr. Hiten Venegaonkar, learned counsel for CBI and Ms. A.A.Takalkar, learned APP for the State. I have perused the records and considered the submissions advanced by the learned counsel for the respective parties.

(3.) The CBI has registered FIR No. RC.BA1/2020/A0004-CBI/ACB/ Mumbai against the aforesaid Applicant and the other co-accused for offences punishable under Sec. 120(B) r/w. 420 of the Indian Penal Code and Sec. 7, 11 and 12 of the Prevention of Corruption Act, 1988. The allegations against the Applicant and the co-accused inter alia are that the Applicant, Promoter of AG companies and the co-accused - Rana Kapoor, the Managing Director and CEO of Yes Bank Ltd, his wife - Smt. Bindu Rana Kapoor, Director of M/s. Bliss Abode Pvt. Ltd. had entered into a criminal conspiracy to divert the sale proceeds of the property mortgaged with Yes Bank and to cheat the bank for the purpose of obtaining above illegal gratification. It is alleged that Rana Kapoor had obtained illegal gratification in the form of a property in the prime location in New Delhi at much less than the realizable market value. There was principal outstanding of Rs.350.00 crores to ICICI Bank and Rs.30.00 crores to DCB Bank against charge of above property in New Delhi. It is alleged that as a part of the conspiracy, Yes Bank sanctioned loan of Rs.400.00 Crores to M/s. Avantha Reality Ltd. (ARL) as Lease Rental Discounting (LRD) for a period of 10 years. It is alleged that it was essentially a sham agreement entered into with an intention to defraud and cheat Yes Bank Ltd. As a part of conspiracy, Rana Kapoor extended various concessions, relaxations and waivers to various AG companies promoted by the Applicant and thereby obtained illegal gratification to the tune of Rs.307.00 Crores by acquiring an expensive property at Rs.378.00 Crores against the declined value of Rs.685.00 Crores.