New Delhi: In a fresh allegation, the Central Bureau of Investigation on Wednesday filed a first information report against Avantha Realty Limited, its promoter Gautam Thapar and others for allegedly cheating Yes Bank to the tune of over Rs 466 crore during 2017-’19.
The CBI has carried out searches at 14 locations in Delhi-NCR and three other cities after registering an FIR against Oyster Buildwell Private Ltd, Avantha group promoter Gautam Thapar, according to PTI sources.
Thapar is already under investigation in a different case related to the diversion of public money in Yes Bank allegedly involving the bank's former chief Rana Kapoor, as per the news agency. Apart from the above locations, the CBI also conducted searches in Lucknow (Uttar Pradesh), Secunderabad (Telangana), and Kolkata (West Bengal) including the premises of the accused.
What are the allegations levelled against Gautam Thapar?
As per the CBI allegations, the accused have been involved in a criminal conspiracy, criminal breach of trust, cheating, and forgery for diversion of public money to the tune of Rs 466.15 crore.
In connection to this case, the CBI has also booked directors of Oyster Buildwell Pvt Ltd - Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan - as well as unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd.
Oyster Buildwell Pvt Ltd (OBPL) is part of Avantha group with over 97 percent stake held by Avantha Realty and the remaining by Thapar and Vani agencies, the CBI alleged.
On May 27, 2021, a complaint has been received from Chief Vigilance Officer of the Bank Ashish Vinod Joshi after which the case has been registered.
The Yes Bank complaint, which is a part of the FIR, claimed that Jhabua Power Limited (JPL), a group concern of OBPL, entered operations and maintenance contract for its 600 MW power plant with its holding company Jhabua Power Investment Ltd for 10 years.
OBPL was supposed to pay an interest-free refundable security deposit of Rs 515 crore to JPIL for which Yes Bank had sanctioned a long-term loan of Rs 515 crore for 10 years. The company defaulted on payments with the account turning into a non-performing asset on October 30, 2019.
The total outstanding principal dues stand at Rs 466.15 crore, it alleged.