The CBI has booked Delhi and Gurugram-based Avantha Group and Oyster Buildwell promoted by Gautam Thapar and conducted searches on Wednesday at the premises of the directors and promoters of these firms in a case of defrauding the Yes Bank to the tune of `466.51 crore.
The firms allegedly availed a term loan facility of Rs 515 crore from Yes Bank Limited in December, 2017. The loan amount was declared as NPA on October 30, 2019.
“Further, the borrower was allegedly declared ‘Red Flagged Account’ on March 6, 2020 on the basis of Early Warning Signals (EWS). It was also alleged that the accused including the said private company and its holding company, its directors/promoters and others committed breach of trust, cheating, criminal conspiracy, forgery for diversion/misappropriation of the public money during the period from 2017 to 2019, thereby causing loss to the tune of Rs 466.51 crore to Yes Bank,” the CBI said in a statement.
Searches were conducted at 14 locations including at Delhi/NCR, Lucknow, Secunderabad and Kolkata which led to recovery of incriminating documents/digital evidence, it said adding investigation is continuing.
Besides Oyster Buildwell Pvt. Ltd. and its holding company Avantha Realty Ltd., its directors/promoters like Raghubir Kumar Sharma, Rajendra Kumar Mangal, Tapsi Mahajan, Gautam Thapar and unknown officials of private companies/bank have been named as accused in the case. Unknown officials of Jhabua Power Investment Ltd., Jhabua Power Ltd., Avantha Ltd. and Avantha Power and Infrastructure Ltd. have been listed as accused in the FIR.