The Central Bureau of Investigation (CBI) has carried out searches at 14 locations in Delhi-NCR and three other cities after registering a First Information Report (FIR) against Oyster Buildwell Private Ltd, Avantha group promoter Gautam Thapar and others for alleged diversion of over Rs 466 crore in Yes Bank during 2017-19, officials said.
Thapar is already being probed in another case related to diversion of public money in Yes Bank allegedly involving the bank’s former chief Rana Kapoor, they said.
In the present case, the CBI has also booked directors of Oyster Buildwell Pvt Ltd – Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan – as well as unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd.
Oyster Buildwell Pvt Ltd (OBPL) is part of Avantha group with over 97 percent stake held by Avantha Realty and the remaining by Thapar and Vani agencies, the CBI alleged.
The case has been registered on a complaint, dated May 27, 2021, from Chief Vigilance Officer of the Bank Ashish Vinod Joshi.
The CBI has alleged that the accused have indulged in a criminal conspiracy, criminal breach of trust, cheating and forgery for diversion of public money to the tune of Rs 466.15 crore, they said.
After registering the case, the CBI team searched at 14 locations in Delhi and NCR, Lucknow (Uttar Pradesh), Secunderabad (Telangana) and Kolkata (West Bengal) including the premises of the accused, they said.
The complaint by Yes Bank, now a part of the FIR, has alleged that Jhabua Power Limited (JPL), a group concern of OBPL, entered in a operations and maintenance contract for its 600 MW power plant with its holding company Jhabua Power Investment Ltd for ten years.