Mumbai Police’s Economic Offence Wing has registered a fresh FIR against former Yes Bank co-founder Rana Kapoor, investor Sudhir Valia, and unnamed officials, alleging a ₹1,000-crore fraud tied to loan assignment and sale of mortgaged assets. The complaint says Sapphire Land Development secured a ₹150-crore credit facility in September 2016, but recovery rights were transferred to Suraksha ARC within 10 months despite a 36-month repayment period. The FIR also alleges prime properties were sold at undervalued rates without proper NPA classification or independent valuation.
BJP MP Raghav Chadha told President Droupadi Murmu that Punjab is practising “vendetta politics” against MPs who left the Aam Aadmi Party. He made the claim days after Punjab registered two FIRs against Rajya Sabha MP Sandeep Pathak, who also switched from AAP to the BJP. Chadha says he fears he will be the next target.
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