New Delhi: The Enforcement Directorate (ED) on Tuesday arrested businessman and Avantha Group promoter Gautam Thapar in connection with a money laundering case. The investigating agency had recently raided the hideouts of several of its senior officials, including Avantha Group and Thapar, in Delhi and Mumbai in connection with the money laundering case. Thapar was then questioned.
Thapar is accused of misusing bank funds, fake transactions with concerned parties, wrongly taking loans from banks, giving fake vouchers and economic details, criminal conspiracy, and fraud. The investigating agency is investigating Thapar in these cases. Thapar has been charged on the basis of a forensic audit report. According to sources, ED has registered two cases against Gautam Thapar and his firm and associates.
One of these cases is a Rs 467 crores fraud with Yes Bank. According to the investigating agency, Rana Kapoor, former executive director of Yes Bank, took bribes from Avantha Reality as a property at a much lower price than the market. It is alleged that Rana Kapoor took the bribe to allow Thapar's company to repay the loan from Yes Bank. The market value of this property is Rs 685 crores.
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