The ED was probing an alleged transaction between his agency Avantha Realty, Certain Monetary establishment co-founder Rana Kapoor and his partner Bina, who’re already being investigated under the PMLA by the corporate.
The Enforcement Directorate (ED) on Friday filed a value sheet in direction of Avantha Group promoter Gautam Thapar in reference to Rs 500-crore money laundering case. The last word report was filed sooner than Specific Resolve Sanjeev Aggarwal, who put up the matter for consideration on October 4.
Thapar was arrested by the ED in August and is in judicial custody.
The court docket docket, within the meantime, adjourned the bail utility, filed by advocate Vijay Aggarwal and Karanjawala & Co, for October 7 for extra arguments.
The equipment has claimed that the accused was not required for custodial interrogation and no perform may be served by preserving him in extra custody.
It claimed that there was no threat of the accused tempering with the proof or influencing the witnesses.
Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on August 3, after the corporate carried out raids in direction of him and his linked corporations in Delhi and Mumbai.
The ED was probing an alleged transaction between his agency Avantha Realty, Certain Monetary establishment co-founder Rana Kapoor and his partner Bina, who’re already being investigated under the PMLA by the corporate.
The case of money laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation (CBI).
The FIR alleged that Kapoor, then MD and CEO of Certain Monetary establishment, obtained illegal gratification inside the kind of a property in a major location in Delhi at quite a bit decrease than the realisable market value belonging to Avantha Actuality Ltd for sanction of a mortgage to ARL, and rising concessions, relaxations and waivers inside the already current credit score rating companies provided to Avantha Group corporations and for advancing new and further loans to them by Certain Monetary establishment Ltd.
The CBI had closing 12 months booked Kapoor and his partner Bindu for allegedly buying a bribe of Rs 307 crore by the acquisition of a bungalow in a tony Delhi area from a realty company at half the market worth and facilitating spherical Rs 1,900 crore monetary establishment 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 the company Bliss Abode Pvt Ltd in return for non-realisation of over Rs 1,900 crore in loans from Certain Monetary establishment to Avantha Realty and group companies.
In June, 2021 the CBI had booked Thapar and others in a latest case of fraud of Rs 2,435 crore inside the State Monetary establishment of India (SBI) and totally different banks to probe an alleged fraud case on the CG Power and Industrial Choices.
Provide: PTI
(The story has been revealed from a wire feed with out modifications to the textual content material. Solely the heading has been modified)
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https://realtynxt.com/2021/10/02/enforcement-directorate-files-charge-sheet-against-avantha-groups-promoter/?utm_source=rss&utm_medium=rss&utm_campaign=enforcement-directorate-files-charge-sheet-against-avantha-groups-promoter | ED Info Price Sheet In the direction of Avantha Group’s Promoter
