The Central Bureau of Investigation (CBI) had registered cases against Thapar, Yes Bank founder Rana Kapoor and other accused for offences punishable under Sections 120B (criminal conspiracy), 420 (cheating) of the Indian Penal Code (IPC) and Sections 7, 11 and 12 of the Prevention of Corruption Act (PCA).
The case of the Central Bureau of Investigation (CBI) was that prime accused and Kapoor had acquired property belonging to Avantha at a prime location in Delhi at a consideration less than its market value.
The allegation was he had official dealings in the form of loans with Avantha.
The CBI further stated that Thapar had entered into a criminal conspiracy with Kapoor for the purpose of cheating and diverted the sale proceeds of the property for ever-greening other outstanding loans.
As a favour, it was alleged, that an additional property of ₹1,360 crores was sanctioned and disbursed to other group companies belonging to Thapar.
The CBI filed a chargesheet on October 8, 202,1 and the court took cognisance on October 12, 2021, and issued summons to the accused.
Source: Barandbench
