NEW DELHI: The Enforcement Directorate (ED) on Friday filed a chargesheet (Prosecution Complaint) against Avantha group promoter Gautam Thapar in connection with a Rs 500-crore money laundering case.
He was arrested by the ED in August month this year and is currently undergoing judicial custody.
The chargesheet, which is voluminous in the record has been filed in Rouse Avenue Court, which kept the matter on October 4, for consideration.
The bail application of Gautam Thapar was also listed before Special Judge Sanjeev Aggarwal's Court and detailed arguments were made on behalf of him and the bail matter is adjourned to October 7 for further arguments.
Gautam Thapar is represented by Advocate Vijay Aggarwal, briefed by Advocate Sandeep Kapur, Senior Partner, Karanjawala and Co. and comprising Vir Sandhu, Rajat Soni, Vivek Suri, Niharika Karanjawala, Apoorva Pandey, Mridul Yadav, Abhimanshu Dhyani and Sahil Modi.
The Delhi High Court on Thursday dismissed the plea of Avantha Group promoter Gautam Thapar challenging the ground of his arrest in a money laundering case.
Thapar's advocate Vijay Aggarwal during an argument in bail plea said, "Investigation and interrogation against the applicant are completed and no grounds for continued custody are made out."
The continued detention of the applicant who has been languishing in the custody at the pre-trial stage does not appear to be warranted, the lawyer submitted.
ED had arrested Avantha Group promoter Gautam Thapar in a money laundering case following searches at multiple locations in Delhi and Mumbai.
According to the ED, An ECIR was registered against Gautam Thapar, Avantha Realty Ltd., Oyster Buildwell Pvt. Ltd. and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion/ misappropriation of public money during the period 2017 to 2019.
Earlier, ED told the Delhi Court that the investigation revealed that approximately Rs 500.11 crores proceeds of crime, were laundered through Oyster Buildwell Pvt Ltd (OBPL), Jhabua Power Limited (JPL), Jhabua Power Investment Ltd. (JPIL), Avantha Power and Infrastructure Ltd (APIL), Avantha Realty Ltd. (ARL) etc. which are being controlled and beneficially owned directly or indirectly by Gautam Thapar.
ED told the court that the probe disclosed that the same agreements were made by these entities to fraudulently obtain huge amounts running into more than Rs 500 crores from Yes Bank and further by different modes of layering the tainted amount was laundered and the loan account thus turned NPA causing a loss of huge public money.