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Founder of the Avantha Group, billionaire Gautam Thapar have been raided by the Central Bureau of Investigation on the basis of a case filed on Wednesday. The investigation has been carried out for allegedly defrauding Yes bank to the tune of Rs 466 crore.
According to sources, the investigation agency have directed searches at around 20 locations, that included the premises of Mr. Thapar. So far, they have recovered damning evidences. The agency has also uttered the name of Raghubir Kumar Sharma, Rajendra Kumar Mangal, Tapsi Mahajan and their companies M/s Oyster Buildwell Pvt Ltd, unknown officials of Jhabua Power Ltd along with Gautam Thapar and his company Avantha Reality Pvt Ltd.
The above accused and their companies took huge loans from Yes Bank. There account turned NPA’s or Non Performing Asset for their non payment over time, as per the sources.
A forensic audit has found and disclosed about misappropriation and diversion of funds. Thereafter, Yes bank filed a complaint with the Central Bureau of Investigation. Criminal conspiracy, cheating, criminal breach of trust and forgery have been charged upon the accused.
Previous year the agency had charged the former MD of Yes Bank, Rana Kapoor and his family member for allegedly receiving Rs 307 crore bribe through the purchase of a bungalow from Avantha Reality. It is one of the companies of Gautam Thapar. The bribe was taken to allow Gautam Thapar to go easy on loans availed for his companies from Yes Bank.