CBI case against Avantha Group's Gautam Thapar for Yes Bank fraud worth ₹466cr
The Central Bureau of Investigation (CBI) filed a case against Gautam Thapar of Avantha Group for an alleged fraud worth ₹466 crore with Yes Bank.
The case pertains to loan taken by Oyster Buildwell Pvt Ltd, a holding company of Avantha Realty Limited, and its misappropriation between 2017 and 2019.
A complaint was filed for "having committed criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/misappropriation of the public money during the period from 2017 to 2019, thereby, causing loss to the tune of ₹466.51 crore to the Yes Bank," the official complaint read.
The CBI officials said raids were carried out at a dozen places in connection with the case.
In March 2020, the central agency had registered a case against Yes Bank founder Rana Kapoor, his wife Bindu Rana Kapoor and Gautam Thapar among others for “illegal gratification in lieu of favours extended in connection with official work".
This case was in connection to a lavish 1.2-acre bungalow at 40, Amrita Shergill Marg in New Delhi which was allegedly bought at half its market price by Kapoor as “bribe” from Thapar in lieu of extending loan worth around ₹1,900 crore to his group company.
It is alleged that ₹307 crore bribe was involved in the sale of the bungalow.