The Enforcement Directorate (ED) has arrested Avantha Group promoter Gautam Thapar in connection with a money laundering case, officials said on Wednesday. The agency arrested Thapar on late Tuesday after day-long questioning in connection with the alleged property transaction between Avantha Realty and YES Bank's co-founder Rana Kapoor and his wife, officials said.

The businessman was arrested following searches at multiple locations in Delhi and Mumbai. The ED had registered a case against Thapar and promoters and directors of two private companies based in Delhi and Gurugram for causing an alleged loss of approximately Rs 467 crore to YES Bank.