The Enforcement Directorate(ED) has arrested Avantha Group promoter Gautam Thapar in reference to a cash laundering case, officers mentioned on Wednesday.
Gautam Thapar was arrested beneath provisions of the Prevention of Cash Laundering Act (PMLA) on Tuesday evening after the company carried out raids in opposition to him and his linked companies in Delhi and Mumbai, they mentioned.
He’s anticipated to be produced earlier than courtroom on Wednesday the place the ED will search his custody, they added.
The ED has been probing an alleged transaction between his firm Avantha Realty, Sure Financial institution co-founder Rana Kapoor and his spouse, who’re already being investigated beneath the PMLA by the company.
The case of cash laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation (CBI).
“The (CBI) FIR alleges that Rana Kapoor, then MD and CEO of Sure Financial institution Restricted, obtained unlawful gratification within the type of a property in a main location in Delhi at a lot lower than the realisable market worth belonging to Avantha Actuality Ltd for sanction of a mortgage to ARL and for extending concessions, relaxations and waivers within the already present credit score services offered to Avantha Group corporations and for advancing new and extra loans to them by Sure Financial institution Ltd,” the ED had mentioned earlier.
CBI had final yr booked Kapoor and his spouse Bindu for allegedly acquiring a bribe of Rs 307 crore by means of the acquisition of a bungalow in a tony Delhi space from a realty agency at half the market value and facilitating round Rs 1,900 crore financial institution loans to it in return.
The CBI suspected that the discounted transaction for the 1.2 acre-bungalow on Amrita Shergill Marg in Delhi was a gratification to Kapoor by means of the corporate Bliss Abode Pvt Ltd in return for non-realisation of over Rs 1,900 crore in loans from Sure Financial institution to Gautam Thapar-promoted Avantha Realty and group corporations.
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