The Central Bureau of Investigation as we speak filed a case towards billionaire Gautam Thapar, founding father of the Avantha Group, and others for allegedly defrauding Yes Bank to the tune of Rs 466 crore.
Sources say that the premier investigating company performed searches at round 20 places, together with the premises of Mr Thapar, and recovered damning proof.
Along with Mr Thapar, 60, the company has additionally named Raghubir Kumar Sharma, Rajendra Kumar Mangal, Tapsi Mahajan, and their firms M/s Oyster Buildwell Pvt Ltd, Avantha Reality Pvt Ltd and unknown officers of Jhabua Power Ltd.
The accused and their firms took big loans from Yes Bank and because of non-payment over time their accounts turned NPAs or Non-Performing Assets, say sources.
A forensic audit has revealed misappropriation and diversion of funds. Soon after, Yes Bank filed a criticism with the CBI.
The accused have been charged with legal conspiracy, dishonest, legal breach of belief and forgery.
Last yr the company had charged Rana Kapoor, former MD of Yes Bank, and his relations for allegedly acquiring Rs 307 crore bribe by means of the acquisition of a bungalow from Avantha Reality, one of many firms of Gautam Thapar, to go simple on the loans availed by Gautam Thapar-owned firms from Yes Bank.