The Central Bureau of Investigation (CBI) registered case against CG Power and Industrial Solution Limited and against former CMD Gautam Thapar, CEO and MD Madhav Acharya, ED and CFO KN Neelkanth, director B Hariharan, non-executive director Omkar Goswami, CFO Venkatesh Rammorthy, and unknown public servants for causing loss to the State Bank of India (SBI) and a consortium of member banks. The loss was in the tune of Rs 2,345 crore.
CBI also conducted searches at more than 14 premises of the accused at Mumbai, Delhi and Gurugram on Thursday.
According to CBI officials, it was alleged that the said accused had cheated the SBI and other consortium member banks including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc. by way of diversion of bank funds, sham transactions with related parties, borrowing funds from the Bank by misrepresentation, falsifying/fabricating books of accounts, entries, vouchers & financial statements, furnishing false, incorrect or misleading information and siphoning off funds including various loan proceeds. The allegations were based on forensic audit report.
This is the second FIR that CBI has registered against Gautam Thapar. On June 9, 2021, the CBI had registered and FIR against Avantha Realty Group Limited and its directors and promoters Raghubir Kumar Sharma, Rajendra Kumar Mangal, Tapsi Mahajan, Gautam Thapar and unknown officials of Jhabua Power Investment Limited, Jabhua Power Limited, Avantha Holdings Limited and Avantha Power & Infrastructure Limited and unknown bank officials for alleged diversion and misappropriation of over Rs 466 crore to Yes Bank between 2017-19.
Thapar and others have been accused of cheating the bank by availing of a loan that turned into an NPA (non-performing asset).
The FIR was registered after YES Bank official approached the CBI and gave a complaint.