ANI
04 Aug 2021, 08:25 GMT+10
New Delhi [India], August 4 (ANI): The Enforcement Directorate (ED) has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesday.
The agency arrested Thapar on late Tuesday after day-long questioning in connection with the alleged property transaction between Avantha Realty and YES Bank's co-founder Rana Kapoor and his wife, officials said.
The businessman was arrested following searches at multiple locations in Delhi and Mumbai.
The ED had registered a case against Thapar and promoters and directors of two private companies based in Delhi and Gurugram for causing an alleged loss of approximately Rs 467 crore to YES Bank.
The Central Bureau of Investigation (CBI) has already been investigating a corruption case registered against Thapar for his alleged role in the loan bank fraud matter.
ED began its probe in the Prevention of Money Laundering Act (PMLA) based on the CBI's first information report in the case, which was filed on the complaint from the State Bank of India on behalf of the consortium of 11 other lender banks, including YES Bank.
Thapar's role is also suspected in alleged irregularities at CG Power and Industrial Solutions in which he has been questioned by the agencies.
The CG Power Board removed Thapar from the firm from the post of chairman in 2019 for his alleged role in various dubious transactions. (ANI)Get a daily dose of Manufacturing Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Manufacturing Mirror.
More InformationNew Delhi [India], May 28 (ANI): The Patiala House Court of Delhi on Wednesday issued notice on a plea filed by Tahawwur Rana, a key...
New Delhi [India], May 27 (ANI): Tahawwur Rana, a key accused in the 26/11 conspiracy case, has petitioned the Patiala House Court...
SMPL New Delhi [India], May 27: PromptTech Global, a leading enterprise technology provider, has unveiled its latest initiative --SME...
Twenty-year-old Mariamawit Habtom was among 14 contestants who recently took part in the 24th Chinese Bridge Chinese Proficiency Competition...
By Puneet Dua New Delhi [India], May 27 (ANI): For decades, sports fandom in India was about loyalty, emotion, and the collective...
The Russian president has said that foreign sanctions have made the country stronger ...
SAO PAULO, Brazil: Amid a surge in electric vehicle (EV) adoption and growing competition in Brazil, Chinese automaker GAC has officially...
STOCKHOLM/DETROIT: Volvo Cars customers will likely bear the brunt of increasing trade tariffs, CEO Hakan Samuelsson said this week,...
DEARBORN, Michigan: Ford Motor Company has filed a lawsuit against several California lawyers and law firms, accusing them of cheating...
WASHINGTON, D.C.: The U.S. Transportation Department is expected to say that fuel economy rules created under President Joe Biden went...
GOTHENBURG, Sweden: Volvo Cars is stepping up its collaboration with Google to become the lead development partner for Android automotive...
SYDNEY, Australia - A pharmacist has been charged after allegedly defrauding the Pharmaceutical Benefits Scheme (PBS) of more than...