New Delhi: plot Businessman ‘beneficially owns’ company worth over Rs 78 crore Gautam Thapar As part of probe into alleged bank loan fraud of over Rs 466 crore It’s a bankthe Ministry of Education said on Saturday. The federal agency has provisionally earmarked 52.11 acres of land in Haryana’s Gurugram district. The investigation involves a company called Oyester Buildwell Private Limited (OBPL), whose beneficial owner is Gautam Thapar, the company said in a statement.
The case filed by the Enforcement Directorate (ED) under various sections of the Prevention of Money Laundering Act (PMLA) stems from a CBI FIR filed against Thapar, OBPL and another company of the businessman, Avantha Realty Ltd.
It is alleged that they misappropriated public funds through “cheating” and “forgery” between 2017 and 2019, causing a loss of 466.51 million rupees to Yes Bank.
According to ED, OBPL obtained a loan of Rs 5,142.7 crore from Yes Bank Ltd. in 2018 under a “fake” O&M (operation and maintenance) agreement.
“Out of this loan amount, Yes Bank retained Rs 14.11 crore as loan processing fee and the balance of Rs 500.11 crore was transferred by OBPL to its sister company in the form of fake O&M agreement,” the agency said.
Since the loan was issued under “suspicious” circumstances and eventually became a non-performing asset for the bank, only 47.75 billion rupees could be recovered, while 466.51 billion rupees of “criminal proceeds” remain unrecoverable.
As part of the investigation, the education ministry had earlier submitted a chargesheet against 18 people, including Thapar and former Yes Bank promoter Rana Kapoor, before the special PMLA court in Delhi.
Thapar was arrested in the case and the court has granted him bail on health grounds.
The case filed by the Enforcement Directorate (ED) under various sections of the Prevention of Money Laundering Act (PMLA) stems from a CBI FIR filed against Thapar, OBPL and another company of the businessman, Avantha Realty Ltd.
It is alleged that they misappropriated public funds through “cheating” and “forgery” between 2017 and 2019, causing a loss of 466.51 million rupees to Yes Bank.
According to ED, OBPL obtained a loan of Rs 5,142.7 crore from Yes Bank Ltd. in 2018 under a “fake” O&M (operation and maintenance) agreement.
“Out of this loan amount, Yes Bank retained Rs 14.11 crore as loan processing fee and the balance of Rs 500.11 crore was transferred by OBPL to its sister company in the form of fake O&M agreement,” the agency said.
Since the loan was issued under “suspicious” circumstances and eventually became a non-performing asset for the bank, only 47.75 billion rupees could be recovered, while 466.51 billion rupees of “criminal proceeds” remain unrecoverable.
As part of the investigation, the education ministry had earlier submitted a chargesheet against 18 people, including Thapar and former Yes Bank promoter Rana Kapoor, before the special PMLA court in Delhi.
Thapar was arrested in the case and the court has granted him bail on health grounds.
