Big action by ED in money laundering case, Avantha Group promoter Gautam Thapar arrested

The Enforcement Directorate on Tuesday arrested businessman and Avantha Group promoter Gautam Thapar in a money laundering case. Prior to his arrest, investigative agencies had raided several locations of Avanta Group and Thapar in Delhi and Mumbai. Along with this, raids were also conducted on the places of many other senior officers. After this Thapar was also interrogated. According to the information, Thapar has been arrested last night. Thapar is expected to be produced before the court on Wednesday where the ED will seek his custody. According to officials, the ED is probing Thapar’s company Avanta Realty, an alleged transaction between Yes Bank co-founder Rana Kapoor and his wife.

The ED had registered a money laundering case taking cognizance of an FIR registered by the Central Bureau of Investigation (CBI). In June this year, the Central Bureau of Investigation (CBI) arrested Thapar, including his promoters and directors of two private firms based in Delhi and Gurugram, for allegedly causing damages of Rs 466.51 crore to Yes Bank.

The industrialist is being investigated by several agencies including the ED in the Yes Bank fraud case in which the private bank’s co-founder Rana Kapoor has also been arrested.