CBI charges Gautham Thapar with Yes Bank loan fraud
In a recent case filed by CBI against Gautam Thapar, who is also treated as the founder of the Acantha group. GC is found guilty of diverting a loan taken from the Yes bank worth Rs 450 crores. The investigation is being implemented and executed in cities like Delhi, Kolkata, and Telangana. The cases were filed by Yes bank with an extended loan of about Rs 500 crores in 2017, which was availed for the operation of the business.
The name of the company is Avantha Group Jhabua Power limit. The systematic investigation of CBI and the repeated special audits have put some lights on the fact that the company became a non-performing asset and started defaulting the loan repayments from the year 2019, while on the other side, it was found that Rs 15 crores were traceable. The leftover Rs 500 crores cannot be tracked.
There has been an allegation that the balance amount has been for using the loan amount to settle the existing loans instead of using it to operate the company.
During the tenure of the last two years, it has been found that Thapar is in trouble many times and also CG power moved him out of the position of chairman. This has been done after the reality disclosed that few officials of the bank and few auditors gave the result of the transaction, which was unauthorized. It was found because there was a notice of the understatement found that there were many understated potentials of not only the liabilities but also the advances of the company.