Gautam Thapar caught in the third case for cheating
Industrialist Gautam Thapar is caught in the third case for cheating of the State Bank of India (SBI)-led banking consortium of more than Rs.2435 crores involving Yes Bank. Central Bureau of Investigation (CBI) on Thursday raided his home in Delhi and other three locations. Thapar is already charged along with Yes Bank promoter Rana Kapoor in an inflated land purchase in Delhi. Recently the CBI filed another case against Gautam Thapar for cheating Rs.466 crore from Yes Bank.
This time (Third) Thapar and his company CG Power and Industrial Solutions (earlier known as Crompton Greaves Ltd) is caught by the CBI for fraud of Rs.2435 crore in Yes Bank and another consortium of banks. The present case is based on a complaint from the State Bank of India on behalf of the consortium of 11 other lender banks, including Yes Bank.
CBI’s First Information Report (FIR) said that between 2015 and 2019 he cheated the banks by way of diversion of bank funds and sham transactions with related parties.
Besides Thapar, the CBI has also booked CG Power and Industrial Solutions, erstwhile Crompton Greaves Ltd, and the then executives, including chief executive officer and managing director K N Neelkanth, executive director and chief financial officer (CFO) Madhav Acharya, director B Hariharan, non-executive director Omkar Goswami and CFO Venkatesh Ramamoorthy. Raids were conducted at Thapar’s home and offices at Delhi, Mumbai and Gurugram.
“It was alleged that the said accused had cheated SBI and other consortium member banks, including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc…,” the CBI said in a statement. CBI’s First Information Report (FIR) said that between 2015 and 2019 he cheated the banks by way of diversion of bank funds and sham transactions with related parties.
They also misrepresented and falsified account books, entries, vouchers and financial statements providing false, incorrect or misleading information to secure credit which they siphoned off by diverting them to other companies, said CBI detailing the Rs.2435 crore banking fraud by Gautam Thapar and his company.
 CBI conducts searches at CG House in Gautam Thapar case – Jun 24, 2021, Money Control
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