Rs. Another case against Gautam Thapar for Rs 3 crore bank fraud

(PTI) New delhi date. 24

The CBI has registered a fresh case against Gautam Thapar, former chairman of CG Power and Industrial Solutions, for allegedly defrauding Yes Bank and other banks of Rs 3 crore and raided six places. Thapar is already under investigation in other cases.

CCG Power and Industrial Solutions were formerly known as Crompton Greaves. The CBI has carried out raids in Mumbai, Delhi and Gurgaon. According to officials, a fraud case of Rs 3 crore was earlier filed against Thapar.

The CBI has registered several FIRs against Thapar for bank fraud and corruption. The case filed today is based on a complaint lodged by SBI. SBI had filed the complaint on behalf of a group of 11 other banks, including Yes Bank.

In addition to Thapar, CBI CG Power and Industrial Solutions (formerly Crompton Greaves Ltd.), the then Chief Executive Officer and Managing Director KN Nilkant, Executive Director and Chief Financial Officer Madhav Acharya Happens.

The accused had committed fraud with a group of banks including SBI and Bank of Maharashtra, Axis Bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank, the CBI said in a statement.

The CBI further alleged that the accused had diverted bank funds between 2012 and 2016 and committed fraud with banks.