Delhi Court sends Avantha Group promoter Gautam Thapar to 10-day ED custody
A Delhi court on Thursday extended by ten days the custodial interrogation of Avantha Group promoter Gautam Thapar, arrested by Enforcement Directorate in connection with a Rs 500 crore money laundering case.
Special Judge Sanjeev Aggarwal extended Thapar's ED custody till Aug 15 after he was produced before the court on expiry of his one-day custodial interrogation granted on Wednesday.
Thapar was arrested on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai.
The agency told the court that investigation revealed that around Rs 500 crore worth proceeds of crime were laundered through Oyster Buildwell Pvt Ltd (OBPL), Jhabua Power Limited (JPL), Jhabua Power Investment Ltd. (JPIL), Avantha Power & Infrastructure Ltd (APIL), Avantha Realty Ltd. (ARL) etc. which were being controlled and beneficially owned directly or indirectly by Gautam Thapar.
The probe revealed that sham agreements were made by these entities to fraudulently