Stay updated with the latest - Click here to follow us on Instagram
© The Indian Express Pvt Ltd
Tags:
Journalism of Courage
The Enforcement Directorate (ED) has attached 24 immovable properties spanning 52.11 acres of land worth around Rs 78 crore of a company beneficially owned by businessman Gautam Thapar as part of a probe into an alleged bank loan fraud of over Rs 466 crore at the Yes Bank, the agency said. The provisionally attached land parcels are in Gurugram district of Haryana.
“The ED initiated investigation is on the basis of an FIR registered by the CBI against a company – Oyester Buildwell Private Limited (OBPL) – whose beneficial owner is Gautam Thapar. The case filed by the ED under various sections of the Prevention of Money Laundering Act (PMLA) stems from a CBI FIR against Thapar, OBPL and another company owned by him, Avantha Realty Ltd,” an ED spokesperson said.
“Thapar and others allegedly committed criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/misappropriation of the public money from 2017 to 2019, causing a loss to the tune of Rs 466.51 crore to YES Bank,” the spokesperson said.
“The ED found in their investigation that OBPL had obtained a loan of Rs 514.27 crore in 2018 from Yes Bank Ltd based on sham O&M (operations and maintenance) agreements…” the spokesperson said.
“Since the said loan was given under dubious circumstances, it eventually became an NPA (non-performing asset) for the bank, and only Rs 47.75 crore could be recovered and proceeds of crime to the tune of Rs 466.51 crore remained unrecoverable… Thapar was arrested in the case, and he is currently out on bail given to him by a court on health grounds,” the spokesperson said.
Stay updated with the latest - Click here to follow us on Instagram
