The Central Bureau of Investigation has filed chargesheets in two cases concerning transactions between the Anil Dhirubhai Ambani Group and Yes Bank, pointing to alleged fraud and diversion of public money. The chargesheets were submitted in Mumbai on September 18 after an extensive probe into financial dealings that trace back to 2017.
Investigators found that Yes Bank, during the tenure of its former chief executive Rana Kapoor, invested over ₹5,000 crore in non-convertible debentures and commercial papers of Reliance Commercial Finance Ltd and Reliance Home Finance Ltd. This was done despite credit rating agencies raising concerns about the poor financial health of these firms. Authorities say the money was siphoned off through layered transactions, suggesting a deliberate diversion of funds.
The probe has also outlined a reciprocal arrangement in which ADA Group companies extended concessional loans to firms controlled by Kapoor&rsquo;s family, including entities owned by his wife Bindu Kapoor and daughters Radha and Roshni. In exchange, Yes Bank sanctioned investments that shored up the struggling ADA Group companies. According to the CBI, this led to a loss of nearly ₹2,800 crore for Yes Bank while bringing unlawful gains to ADA Group companies and the Kapoor family&rsquo;s enterprises.
Further scrutiny revealed that Reliance Nippon Mutual Funds, a subsidiary of Reliance Capital Ltd, invested more than ₹1,100 crore in debentures of Morgan Credits Pvt Ltd, a Kapoor family firm, and purchased ADA Group debentures worth almost ₹250 crore from Yes Bank. The fund also committed ₹1,750 crore to unsecured AT1 bonds of Yes Bank, considered high-risk instruments with no fixed maturity.
The chargesheets allege a conspiracy involving Rana Kapoor, Anil Ambani, members of the Kapoor family, ADA Group companies and associated private firms. The case has been registered under provisions of the Prevention of Corruption Act and the Indian Penal Code.
Observers believe this case underlines the dangers of weakened governance in the banking sector and highlights the consequences when personal interests influence financial decision-making. The trial&rsquo;s outcome is expected to shape regulatory practices and affect investor trust in India&rsquo;s financial institutions.

CBI Charges ADA Group and Yes Bank in Fraud Probe

Investigation reveals fund diversion, quid pro quo and heavy losses to Yes Bank

CBI Charges ADA Group and Yes Bank in Fraud Probe

Investigation reveals fund diversion, quid pro quo and heavy losses to Yes Bank

September 19, 2025 | 01:48 IST