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Bank fraud case: CBI books Thapar, others

New Delhi, June 24

The CBI today said it had conducted raids at six locations in connection with a Rs 2,435-crore fraud following a complaint by an SBI-led consortium of banks, including Yes Bank.

‘Consortium Cheated’

The accused cheated the SBI and other consortium members, including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc. — CBI

Agency officials said the complaint was against former Crompton Greaves chairman Gautam Thapar, who was already under probe in similar cases. The searches were conducted at six locations in Mumbai, Delhi and Gurugram.

Earlier also, Thapar was booked in a Rs 466-crore fraud in Yes Bank case.

The CBI said, “It was alleged that the accused persons and entities cheated the SBI and other consortium members, including Bank of Maharashtra, Axis bank, Yes Bank, Corporation Bank, Barclays Bank, IndusInd Bank etc.”

The accused defrauded banks by way of “diversion of funds, sham transactions, borrowing funds from the bank by misrepresentation, fabricating books of accounts, entries, vouchers and financial statements, furnishing false, incorrect or misleading information, siphoning off funds including loan proceeds”, it said.

Along with Thapar, several other executives of the company have been booked in the case. — TNS

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