NEW DELHI: Businessman and promoter of Avantha Group of Companies Gautam Thapar was arrested by the Enforcement Directorate on Wednesday in a money laundering case, officials said.
He said 60-year-old Thapar was arrested in Delhi on Tuesday night under the Prevention of Money Laundering Act (PMLA).
He is expected to be produced in a court on Wednesday where Ed Will ask for his custody.
The ED is probing alleged transactions between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, whose agency is already probing under the PMLA.
The money laundering case was registered after the ED took cognizance of the FIR lodged central bureau (CBI).
“The (CBI) FIR alleges that Rana Kapoor, then Mohamed and CEO Yes Bank Limited, for sanction of loan to ARL and for granting concessions, rebates and rebates in the credit facilities already existing, obtained illegal gratification in the form of property in a prime location in Delhi at much less than the realizable market value belonging to Avantha Reality Ltd. granted to the Avanta Group of companies and to give them new and additional loans. Yes Bank LimitedED had said earlier.
The CBI last year booked Kapoor and his wife Bindu for allegedly receiving a bribe of Rs 307 crore by buying a bungalow at half the market value from a realty firm in a Delhi area and facilitating bank loans of around Rs 1,900 crore to him. booked for. in return.
The CBI suspected that the concessional transaction for a 1.2-acre bungalow on Amrita Shergill Marg in Delhi was a gratification for Kapoor in return for non-recovery of over Rs 1,900 crore in loans through company Bliss Abode Pvt Ltd. Yes Bank to Avanta Realty and group companies.
In June, the CBI had registered a fresh case against Thapar and others in a fraudulent case of Rs 2,435 crore. state Bank of India (SBI) and other bank CG Power & Industrial Solutions to investigate an alleged fraud case.
(with inputs from agencies)
He said 60-year-old Thapar was arrested in Delhi on Tuesday night under the Prevention of Money Laundering Act (PMLA).
He is expected to be produced in a court on Wednesday where Ed Will ask for his custody.
The ED is probing alleged transactions between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, whose agency is already probing under the PMLA.
The money laundering case was registered after the ED took cognizance of the FIR lodged central bureau (CBI).
“The (CBI) FIR alleges that Rana Kapoor, then Mohamed and CEO Yes Bank Limited, for sanction of loan to ARL and for granting concessions, rebates and rebates in the credit facilities already existing, obtained illegal gratification in the form of property in a prime location in Delhi at much less than the realizable market value belonging to Avantha Reality Ltd. granted to the Avanta Group of companies and to give them new and additional loans. Yes Bank LimitedED had said earlier.
The CBI last year booked Kapoor and his wife Bindu for allegedly receiving a bribe of Rs 307 crore by buying a bungalow at half the market value from a realty firm in a Delhi area and facilitating bank loans of around Rs 1,900 crore to him. booked for. in return.
The CBI suspected that the concessional transaction for a 1.2-acre bungalow on Amrita Shergill Marg in Delhi was a gratification for Kapoor in return for non-recovery of over Rs 1,900 crore in loans through company Bliss Abode Pvt Ltd. Yes Bank to Avanta Realty and group companies.
In June, the CBI had registered a fresh case against Thapar and others in a fraudulent case of Rs 2,435 crore. state Bank of India (SBI) and other bank CG Power & Industrial Solutions to investigate an alleged fraud case.
(with inputs from agencies)
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