InvestorQ : Is it true that Yes Bank has taken possession of Anil Ambani group’s headquarters in Mumbai?
manisha Kolvenkar made post

Is it true that Yes Bank has taken possession of Anil Ambani group’s headquarters in Mumbai?

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Mahima Roy answered.
3 months ago
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Yes Bank took possession of ADAG Mumbai headquarters including the 21,000 SFT space in Santa Cruz as well as a prime property in South Mumbai. ADAG has a loan exposure of Rs.12,000 crore to Yes Bank. However, the real concern is the allegations of funds being round tripped between ADAG group companies and family accounts of the Rana Kapoor.

Most of these loans given by Yes bank to ADAG group companies but these were later routed back to the family accounts of Rana Kapoor via companies like Reliance Commercial Finance. The forensic audit is still on to grasp the depth of the problem. Yes Bank is currently under the RBI rescue plan with SBI its largest shareholder with 30% stake.

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