The Enforcement Directorate (ED) arrested Gautam Thapar, promoter Avantha Group of Companies under the Prevention of Money Laundering Act (PMLA). The arrest came on Tuesday late evening in connection with the Yes Bank fraud case. The agency arrested him following searches at 14 locations, including Mumbai and Delhi.
CBI had booked Gautam Thapar and others for causing an alleged loss of over Rs 460 cr to Yes Bank. CBI had also registered a case against Gautam Thapar and Avantha Group alleging criminal conspiracy, cheating, and obtaining illegal gratification against Rana Kapoor, former Managing Director of YES Bank and his kin.
The ED started interrogating Thapar on Tuesday morning in connection with the alleged property transaction between Avantha Realty and YES Bank's co-founder Rana Kapoor and his wife.
“It was alleged that Rana Kapoor conspired with the others named in the FIR to obtain illegal gratification in the form of a bunglow at Amrita Shergill Marg, New Delhi, by paying only Rs 378 crore (approximately) through Bliss Abode Private Limited, where Rana’s wife was one of the two directors,” said the CBI FIR registered last year.