Yes Bank fraud: Enforcement department arrests Gautam Thapar ..!
Gautam Thapar, the owner of Aventa Group of Companies, has been arrested by the Enforcement Department under the Anti-Money Laundering Act.
The Enforcement Department, which raided the home and offices of Gautam Thapar on Tuesday, arrested him and today sought permission from the Enforcement Department to remand him in custody in court.
In December 2017, Yes Bank lent about Rs 515 crore to Gautam Thapar-led Aventa Realty. The loan was declared a Warak loan on October 30, 2019. But what happened next has now erupted into a major problem.
After declaring the Rs 515 crore loan given by Yes Bank to Aventa Realty as a Warak loan, Yes Bank declared it as a ‘Red Flagged Account’ based on the initial warning signal. Based on this, the CBI examined the loan given to the company.
In this study Aventa Realty and its holding company, its leaders, promoters and many others misused the loan given by Yes Bank between 2017 and 2019.
The CBI investigation found that he had committed offenses of breach of trust, fraud, fraud, criminal, and money transfer to a fake account.
Following this, the CBI filed an FIR against Gautam Thapar and Aventa Group in March 2020. Rana Kapoor, the former chairman of Yes Bank, was also named in the case.
Yes Bank Rana Kapoor
The CBI probe has also found that Rana Kapoor, the former chairman of Yes Bank, was a key figure in the scam. Aventa Realty has acquired Amrita Sherkill Mark Bungalow in Delhi for Rs 378 crore through Bliss adobe. Rana Kapoor’s wife is the chairman of Bliss Abode.
Loan on Delhi Bungalow
The Delhi Bungalow has mortgaged to India Bulls Housing Finance Limited for a loan of Rs 685 crore. It was initially said that the bungalow was purchased at a very low price along with other existing loans when the question arose.
But Gautam Thapar has now been arrested by the Enforcement Department as the CBI has found that what Avenda Reality did was the biggest scam. This bank fraud is also expected to explode into a huge one.
466.51 crore loss
Yes Bank has incurred a loss of about Rs 466.51 crore due to the scam perpetrated by Aventa Realty. The CBI has indicted Avenda Realty and Oyster Bildwell, along with its leaders Raghuveer Kumar Sharma, Rajendra Kumar Mangal, Dapsi Mahajan, Gautam Thapar, and other key officials of the bank/companies.
Furthermore, based on the Early Warning Signals (EWS), the borrower is said to have been declared as a ‘Red Flag Account’ on March 6, 2020. The accused private company and its holding company, its directors/advertisers, and others for breach of trust, deception, criminal conspiracy, diversion/misappropriation of public funds during the period from 2017 to 2019, thereby amounting to Rs. 466.51 crore (approximately) to Yes Bank as per CBI FIR.
Moreover, this will not affect the Regular activities of the Yes Bank.