Avantha Group's Gautam Thapar booked for misappropriation of funds sent to 1 day ED remand

A Special CBI court in Delhi on Thursday sent Indian bizman and Avantha Group promoter Gautam Thapar to one day ED remand in connection with its probe in an alleged offence of money laundering case. Special CBI Judge Sanjeev Aggarwal also granted permission to Thapar's legal team to meet him for a legal interview for a duration of 30 mins.  He will now be produced before the court tomorrow post-lunch.

The businessman was represented by Advocate Vijay Aggarwal briefed by the team from Karanjawala & Co., led by Mr Sandeep Kapur, Senior Partner and comprising of Veer Sandhu, Rajat Soni, Niharika Karanjawala-Misra, Apoorva Pandey and Abhimanshu Dhyani. The federal agency registered Enforcement Case Information Report (ECIR) against Mr Thapar, M/s. Avantha Realty Ltd., M/s. Oyster Buildwell Pvt. Ltd. and others are under the charges of alleged criminal breach of trust, cheating, criminal conspiracy and forgery. The accused persons are booked for diversion/misappropriation of public money during the period 2017 to 2019, thereby causing losses to the tune of Rs. 466.51 Crores to Yes Bank.  On Tuesday, the financial watchdogs raided the offices/residence of the alleged accused persons and have arrested Thapar in the said case.

READ | Yes Bank Scam Case: ED Arrests Avantha Group Promoter Gautam Thapar

(IMAGE: UNSPLASH)