A Delhi Court on Saturday took Cognizance on Enforcement Directorate (ED) Chargesheet filed against Avantha group promoter Gautam Thapar in connection with Rs 500-crore money laundering case.
Businessman Gautam Thapar was arrested by the ED in August month this year and is currently in judicial custody.
Special Judge Sanjeev Aggarwal after hearing the Special Public Prosecutor for ED Advocate Naveen Kumar Matta said, "I hereby take cognizance of offence(s) u/S. 3 read with Section 70, which is punishable u/S 4 of PMLA 2002, as there are sufficient grounds to proceed against the accused persons arraigned in the present complaint."
The bail application of Gautam Thapar was also examined by the court in which partial arguments had already been taken place and further argument will be held on October 11.
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."
"Continued detention of the applicant who has been languishing in the custody at the pre-trial stage does not appear to be warranted," he added.
According to the ED, an Enforcement Case Information Report (ECIR) was registered against Gautam Thapar, Avantha Realty Limited, Oyster Buildwell Private Limited and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion of public money during the period 2017 to 2019.
"Investigation revealed that approximately Rs 500.11 crores proceeds of crime, were laundered through Oyster Buildwell, Jhabua Power Limited (JPL), Jhabua Power Investment (JPIL), Avantha Power and Infrastructure (APIL), Avantha Realty (ARL), which are being controlled and beneficially owned directly or indirectly by Gautam Thapar," ED told Delhi Court.
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.
( With inputs from ANI )
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