Yes Bank loan fraud: CBI searches premises of CG Power and Industrial Solutions in Mumbai

A pedestrian wears a mask to mitigate the coronavirus pandemic as he walks past a branch of Yes Bank, in New Delhi, Thursday, March 19, 2020. Credit: PTI File Photo

The Central Bureau of Investigation (CBI) on Thursday carried out searches at the premises of CG Power and Industrial Solutions, previously known as Crompton Greaves, in Mumbai in connection with alleged loan fraud of Rs 466 crore in Yes Bank involving industrialist Gautam Thapar, officials said.

The searches took place at four locations in Mumbai, they said.

The case has been registered on a complaint, dated May 27, 2021, from Chief Vigilance Officer of the bank Ashish Vinod Joshi.

Also read: Yes Bank board approves plan to raise up to Rs 10,000 cr via debt

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.

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