Earlier this month, the federal company had booked Thapar, two non-public firms based mostly at Delhi and Gurugram and their promoters and administrators for inflicting an alleged lack of Rs. 466.51 crore (approx) to
“It was alleged that the non-public firm based mostly at Gurugram/Delhi had availed time period mortgage facility of Rs 515 crore from Yes Bank Limited in December, 2017. The mortgage quantity was declared as NPA on October 30, 2019. Further, the borrower was allegedly declared ‘Red Flagged Account’ on March 6, 2020, on the premise of Early Warning Signals (EWS),” the FIR registered by the company mentioned.
Thapar is being probed by a number of businesses together with the Enforcement Directorate in the Yes Bank rip-off in which the non-public financial institution’s co-founder, Rana Kapoor has been arrested. Other than the ED, the Serious Fraud Investigation Office (SFIO) is probing him for the alleged irregularities at CG Power & Industrial Solutions and 14 different associated corporations for alleged irregularities.
CG Power makes transformers, switchgear, circuit breakers, community safety & management gear, undertaking engineering, HT and LT motors and automation merchandise.
In August, 2019, the board eliminated promoter and chairman Thapar and efforts are on to cut back debt, promote non-core property and restart and optimise operations. The firm’s whole debt was Rs 2,455.39 crore (fund-based, together with short-term loans) and Rs 1,380 crore (non-fund based mostly) on March 31, 2019.