The Central Bureau of Investigation (CBI) is conducting searches at the CG House in Mumbai, among six locations, in businessman Gautam Thapar’s loan default case, according to a report in MoneyControl.

On June 9, 2021, the CBI had filed a First Information Report (FIR) against Thapar, industrialist-promoter of the Avantha Group, and others for alleged diversion of over Rs 466 crore in Yes Bank during 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 CBI had carried out searches on June 9, 2021 at 14 locations in Delhi-NCR and three other cities after registering an FIR against Oyster Buildwell Private Ltd, Thapar and others for alleged diversion of over Rs 466 crore in Yes Bank during 2017-19, officials were cited as having said in an earlier report by The Economic Times.

In 2019, CG Power sacked Thapar as its chairman after an…

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