Industrialist Gautam Thapar arrested by ED in mid-night raid
Noida: Central government probe agency ED (Enfocement Directorate) has arrested industrialist Gautam Thapar, promoter of Avantha realty and many other companies, in relation to a money laundering case under various provisions of Prevention of Money Laundering Act (PMLA), the ED officials said.
The ED carried out raids on Thapar and his related businesses in Delhi and Mumbai on Tuesday night. Thapar will be produced before a court today and his custody by ED will be sought.
The probe agency has been carrying out an investigation on an alleged deal between Thapar’s company Avantha Realty and Yes Bank’s Rana Kapoor and his wife. Kapoors are already being probed under the PMLA by ED.
The investigation by ED into the alleged deal started after CBI filed an FIR in the matter. The FIR alleges that Rana Kapoor got “illegal gratification” in the guise of huge property in a posh locality of New Delhi at a significantly lower realisable market value, prevailing then, belonging to Avantha Reality Ltd in lieu of a loan to the realty firm for “extending concessions, relaxations and waivers in the already existing credit facilities provided to Avantha Group companies and for advancing new and additional loans to them by Yes Bank Ltd,"
The CBI has already booked Kapoor for allegedly receiving a bribe of Rs 307 crore by way of purchase of a big bungalow in New Delhi from a real estate company at half the prevailing market price and arranging Rs 1,900 crore Yes Bank loans to the realty firm in return.