Gautam Thapar

Sebi slaps Rs 10 cr penalty on Gautam Thapar for alleged fund diversion

Passes final order in CG Power fund diversion case; also fines Avantha Holdings Rs 5 cr and deal lenders IndusInd Bank and Aditya Birla Finance Rs 1 cr each

CBI files chargesheet against Rana Kapoor, Gautam Thapar in bank fraud case

CBI filed a charge sheet against Rana Kapoor, the then MD and CEO, Yes Bank, and Gautam Thapar, Chairman, Avantha Group and Oyster Buildwell in connection with Rs 466.51 crore bank fraud case

CBI files charge sheet against Rana Kapoor, Gautam Thapar in Yes Bank fraud

The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said. In its charge sheet filed before the special CBI court in Mumbai, the probe agency has also named Thapar in the scam. The FIR was registered against Thapar, directors of Oyster Buildwell Pvt Ltd (OBPL) -- Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan --, unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd, on a complaint from Yes Bank CVO Ashish Vinod Joshi. Kapoor is also co-accused with Thapar in another case related to alleged diversion of public money in Yes Bank in exchange for a high-end property at an upscale neighbourhood of Delhi, they added.

CBI quizzes Rana Kapoor in Rs 466-crore scam involving Gautam Thapar

The CBI has questioned YES Bank founder and its former CEO and MD, Rana Kapoor in connection with alleged diversion of over Rs 466 crore in the bank during 2017-19 by Avantha group promoter Gautam Thapar, officials said. Although Kapoor is not named as an accused in the CBI FIR pertaining to the case, he is co-accused with Thapar in another case related to alleged diversion of public money in YES Bank in exchange for a high-end property at an upscale neighbourhood of Delhi, they said. The case in which Kapoor was questioned from March 25-28 was registered on a complaint by Chief Vigilance Officer of the bank, Ashish Vinod Joshi on May 27, 2021. The case was filed against Thapar, directors of Oyster Buildwell Pvt Ltd (OBPL) -- Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan --, unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd. The CBI in its FIR has alleged that the accused indulged in criminal conspiracy, criminal breach of trust, cheating and ..

YES Bank case: HC grants bail to Avantha Group promoter Gautam Thapar

Bombay HC on Friday granted bail to Gautam Thapar, the promoter of Avantha Group in connection with the Yes Bank fraud case involving a transaction of Rs 307 crore with the realty company

HC dismisses bail plea of Gautam Thapar in money laundering case

The detailed order of the high court is awaited

Court grants bail to Rana Kapoor, Gautam Thapar in property sale case

Kapoor and Thapar, however, will not walk out of jail as they are in judicial custody in connection with some other cases

HC dismisses Avantha Group promoter Gautam Thapar's plea challenging arrest

The Delhi High Court Thursday dismissed a plea by Avantha Group promoter Gautam Thapar, arrested by the Enforcement Directorate in connection with a Rs 500-crore money laundering case

HC asks ED to respond to Avantha Group promoter's plea challenging arrest

The Delhi High Court Monday asked the Enforcement Directorate (ED) to respond to a plea by Avantha Group promoter Gautam Thapar, arrested in connection with a Rs 500-crore money laundering case

Delhi Court sends Avantha Group promoter Gautam Thapar to 10-day ED custody

A Delhi court on Thursday extended by ten days the custodial interrogation of Avantha Group promoter Gautam Thapar, arrested by Enforcement Directorate in connection with a Rs 500 crore money laundering case. Special Judge Sanjeev Aggarwal extended Thapar's ED custody till Aug 15 after he was produced before the court on expiry of his one-day custodial interrogation granted on Wednesday. Thapar was arrested on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai. The agency told the court that investigation revealed that around Rs 500 crore worth proceeds of crime were laundered through Oyster Buildwell Pvt Ltd (OBPL), Jhabua Power Limited (JPL), Jhabua Power Investment Ltd. (JPIL), Avantha Power & Infrastructure Ltd (APIL), Avantha Realty Ltd. (ARL) etc. which were being controlled and beneficially owned directly or indirectly by Gautam Thapar. The probe revealed that sham agreements were made by these entities to fraudulently

Delhi court sends Avantha promoter Gautam Thapar to one-day ED custody

A Delhi court on Wednesday sent Avantha Group promoter Gautam Thapar to one-day custody of the Enforcement Directorate in connection with a Rs 500 crore money laundering case. Thapar was arrested on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai. The agency told Special Judge Sanjeev Aggarwal in a hearing held through video conferencing that investigation revealed that around Rs 500 crore worth proceeds of crime were laundered through Oyster Buildwell Pvt Ltd (OBPL), Jhabua Power Limited (JPL), Jhabua Power Investment Ltd. (JPIL), Avantha Power & Infrastructure Ltd (APIL), Avantha Realty Ltd. (ARL) etc. which were being controlled and beneficially owned directly or indirectly by Thapar. The probe revealed that sham agreements were made by these entities to fraudulently obtain huge amount running into more than 500 Crores from Yes Bank and further by different modes of layering the tainted amount was laundered and the loan

Tracking Gautam Thapar: Avantha Group poster boy's fall from grace

Group insiders and analysts say that the group could never recover from the rapid expansion drive, along with some failed foreign buyouts

Explained: How Avantha's Gautam Thapar lost control of his companies

Avantha Group fell prey to its ambitious inorganic growth and diversification

Money laundering case: ED arrests Avantha Group's Gautam Thapar

The agency arrested him following searches at 14 locations, including Mumbai and Delhi.

Rs 2,435-cr bank fraud case: CBI books ex-Crompton Greaves chairman, others

The CBI on Thursday carried out searches at locations in Mumbai, Delhi and Gurgaon.

PE firm Advent pares holding in CG Consumer, sold 6% stake in two tranches

Raises Rs 1,492 crore from deal; Societe Generale picks up 0.62% for Rs 153 crore, identity of other buyers not known

CG Power shareholders vote to declassify Gautam Thapar as promoter

Within days of the unearthing of the fraud involving siphoning off money raised using company assets as collateral, Thapar was removed by the company board on August 29, 2019

Sebi refuses to lift capital market ban on CG Power, Gautam Thapar

Besides Thapar, the other officials banned are CG Power's former Chief Financial Officer V R Venkatesh and former directors Madhav Acharya and B Hariharan

NCLT allows MCA's plea to reopen CG Power's accounts from FY15 to FY19

The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014-15 to 2018-19. The corporate affairs ministry had filed an application in the NCLT seeking the appointment of an independent auditor to reopen the accounts of CG Power & Industrial Solution from 2014-15 to 2018-19. The ministry in its prayer had said the reopening of the books of accounts is needed to bring out the truth in the larger public interest. The Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on the report by Vaish Associates, and asked them to conduct a separate investigation. The tribunal also denied CG Power & Industrial Solution founder Gautam Thapar's plea to grant stay on the order. Earlier in January, the NCLT had quashed the audit report submitted by Vaish Associates, terming it bogus. Thapar was sacked based on this report,

CG Power's boardroom battle has destroyed value for shareholders: InGovern

According to Thapar, the events at CG Power have been orchestrated by the lenders