OPEN APP
Home >Companies >People >Yes Bank fraud case: ED arrests Avantha Group promoter Gautam Thapar

New Delhi: The Enforcement Directorate has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, news agency PTI reported. Thapar was arrested under provisions of the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai.

According to officials, Gautam Thapar will be produced before the court today where the ED will seek his custody.

The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.

The case of money laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation (CBI).

CBI had last year booked Kapoor and his wife Bindu for allegedly obtaining a bribe of 307 crore through the purchase of a bungalow in a tony Delhi area from a realty firm at half the market price and facilitating around 1,900 crore bank loans to it in return.


Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout