ED arrests Avantha Group promoter Gautam Thapar in money laundering case


Team Udayavani, Aug 4, 2021, 8:01 AM IST

The Enforcement Directorate has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesday.

Thapar was arrested under provisions of the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said.

He is expected to be produced before court on Wednesday where the ED will seek his custody, they added.

The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.

The case of money laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation (CBI).

”The (CBI) FIR alleges that Rana Kapoor, then MD and CEO of Yes Bank Limited, obtained illegal gratification in the form of a property in a prime location in Delhi at much less than the realisable market value belonging to Avantha Reality Ltd for sanction of a loan to ARL and for extending concessions, relaxations and waivers in the already existing credit facilities provided to Avantha Group companies and for advancing new and additional loans to them by Yes Bank Ltd,” the ED had said earlier.

CBI had last year booked Kapoor and his wife Bindu for allegedly obtaining a bribe of Rs 307 crore through the purchase of a bungalow in a tony Delhi area from a realty firm at half the market price and facilitating around Rs 1,900 crore bank loans to it in return.

The CBI suspected that the discounted transaction for the 1.2 acre-bungalow on Amrita Shergill Marg in Delhi was a gratification to Kapoor through the company Bliss Abode Pvt Ltd in return for non-realisation of over Rs 1,900 crore in loans from Yes Bank to Gautam Thapar-promoted Avantha Realty and group companies.

The Enforcement Directorate has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesday.

Thapar was arrested under provisions of the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said.

He is expected to be produced before court on Wednesday where the ED will seek his custody, they added.

The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.

The case of money laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation (CBI).

”The (CBI) FIR alleges that Rana Kapoor, then MD and CEO of Yes Bank Limited, obtained illegal gratification in the form of a property in a prime location in Delhi at much less than the realisable market value belonging to Avantha Reality Ltd for sanction of a loan to ARL and for extending concessions, relaxations and waivers in the already existing credit facilities provided to Avantha Group companies and for advancing new and additional loans to them by Yes Bank Ltd,” the ED had said earlier.

CBI had last year booked Kapoor and his wife Bindu for allegedly obtaining a bribe of Rs 307 crore through the purchase of a bungalow in a tony Delhi area from a realty firm at half the market price and facilitating around Rs 1,900 crore bank loans to it in return.

The CBI suspected that the discounted transaction for the 1.2 acre-bungalow on Amrita Shergill Marg in Delhi was a gratification to Kapoor through the company Bliss Abode Pvt Ltd in return for non-realisation of over Rs 1,900 crore in loans from Yes Bank to Gautam Thapar-promoted Avantha Realty and group companies.

 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

BJP Karnataka unit prepares list of probable candidates for LS election

Parliamentary immunity: A tale of contradictory SC verdicts

‘Pro-Pak’ sloganeering case: 3 accused arrested

Kadaba acid attack: Karnataka Health Minister assures stringent legal action against perpetrator

Delhi Police nabs Bangladeshi man from Kolkata for sending hoax e-mail about explosive on flight

‘Mera Bharat, mera parivaar’, says Modi to Lalu’s ‘you don’t have family jibe’

Entire country PM Modi’s family: BJP

Related Articles More

Gurugram: 3 private bank employees held for helping cyber frauds

India transforming due to right policies, right leader: Gadkari hails PM at BJYM meet

Uddhav blasts BJP, says party’s old poll ‘jumlas’ repackaged as ‘Modi ki Guarantee’

College student ‘tortured and killed’ by a group of students in Telangana hostel

‘Diverting from real issues, annoyed as INDIA bloc growing’: Congress on BJP’s ‘Modi Ka Parivar’

MUST WATCH

Anantha Padmanabha Temple

Rameshwaram Cafe

Belkale chande team @Ayodhya

Namma Metro Staff Doesn’t Allow A Farmer To Travel Citing Dirty Clothes

A rare disease


Latest Additions

Udupi: New branch of MCC bank inaugurated at Brahmavara

Gurugram: 3 private bank employees held for helping cyber frauds

People started seeing me in a different light post ‘Maharani’: Huma Qureshi

Two dead, four injured in horrific car crash near Mandya

BJP Karnataka unit prepares list of probable candidates for LS election

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.