The Central Bureau of Investigation on Wednesday filed an 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, PTI reported.
The central agency also conducted searches at around 15 locations in Delhi and the National Capital Region.
“Last year, the agency had registered a case against the bank’s former managing director, Rana Kapoor, and his family members for allegedly receiving Rs 307 crore in bribe to extend favours to the Avantha Group entities,” an official told The Hindu.
In the latest case, the CBI has booked Avantha Realty, Thapar, Oyster Buildwell Private Limited, Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan. Officials of Jhabua Power Investment Limited, Jhabua Power Limited, Avantha Holdings Limited and Avantha Power and Infrastructure Limited are also named as accused.
The accused and their companies took huge loans from Yes Bank and because of its non-payment over time their accounts turned into non-performing assets, according to NDTV. The CBI has alleged that the accused have indulged in a criminal conspiracy, criminal breach of trust, cheating and forgery for diversion of public money worth Rs 466.15 crore, officials said.