Industrialist Gautam Thapar in CBI net in Rs 2,435 crore bank fraud case

NEW DELHI: The Central Bureau of Investigation (CBI) has registered a case against Gautam Thapar and his company CG Power and Industrial Solutions for alleged bank fraud involving Rs 2,435 crore. The FIR was lodged on a complaint by the State Bank of India.

The CBI on Thursday conducted raids at the premises of the accused and his company offices at Mumbai, Delhi and Gurugram.

The State Bank of India in its complaint has alleged that Thapar, his company CG Power and other culprits had cheated the SBI and other consortium member banks 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, etc.

Other banks who were part of the consortium cheated included Bank of Maharashtra, Axis Bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc.

Apart from Gautam Thapar, the FIR also named KN Neelkanth, the then CEO and MD of CG Power and Industrial Solutions, Madhav Acharya, the then ED and CFO, B Hariharan, the then Director, Omkar Goswami, the then non-executive director, Venkatesh Rammoorthy, the then CFO and unknown public servants and unknown others.