17-467: The Thapar Group is an Indian conglomerate founded by Karam Chand Thapar . The following companies are or have been a part of the group: Greaves Cotton , The Pioneer , Sohna Stud Farm Pvt Limited, TT & G Trading Pvt Limited, Built Middle East Pvt Limited, Himalayan Hideaways Pvt Limited, Karam Chand Thapar & Bros Limited, Lavasa Corporation Limited and KCT Papers Limited. Inder Mohan Thapar's son Vikram Thapar and grandson Varun Thapar look after
34-721: A multi crore financial scam at the firm. On 20 August 2019, the company had stated that an investigation instituted by its board had found major governance and financial lapses in the company. In August 2021 the Enforcement Directorate (ED) is probing 3 cases of money laundering involving Gautam Thapar and the Yes Bank . Gautam Thapar, the promoter of the Avantha Group , was arrested by the Enforcement Directorate in connection with an alleged money laundering case. Thapar
51-555: A suitable job and with US visa nearing expiry, he returned to India. Thapar had responsibility to turn around the BILT's chemical division, which was suffering losses due to management-labour conflicts and shortage of water and power. Gautam showed profits within a year, by scrapping the company's expansion plans, selling off a few assets and trying to resolve labour concerns. The family's assets were divided into four in 1999, with Gautam's older brother Karan parting ways in 2005. Gautam became
68-608: Is a Pakistani golf champion. Gautam Thapar Gautam Thapar (born 7 December 1960) is an Indian businessman who is the chairman of Avantha Group and is part of the Thapar family . Gautam Thapar belongs to the third generation of the business family founded by his grandfather Karam Chand Thapar , in Kolkata . Karam Chand had initially offered the reins of the family business to Gautum's father, Brij Mohan Thapar, bypassing his oldest son Inder Mohan Thapar. However, Brij Mohan passed on
85-529: Is into textiles as well as molasses and alcohol. He also took over the Oriental Bank of Commerce , and ventured into paper manufacturing with the Ballarpur Industries Limited . In 1956, he started Thapar Institute of Engineering and Technology which was given the status of Deemed University in 1985 and renamed as Thapar University . Thapar established Karam Chand Thapar & Bros. Ltd. -
102-480: Is the flagship company of the group. Gautam's brother Karan took over the holding company Karun Carpets Private Limited which took over DBH International (including Kaolin India), Bharat Starch Products, DBH Investments and which got the majority of Greaves Cotton , Premium Transmission, DBH Holding, Greaves Leasing, Dee Greaves, DBH Consulting and Ampere Vehicles. JCT Mills FC was the football club of JCT Mills till it
119-794: The Ananta Aspen Centre. He was also on the Board of Governors of his alma mater, the Doon School. In 2010, he took over as the chairman of the board of governors of the Mumbai-based business school NITIE , for a 4-year period. He also promotes golf and is president of the Professional Golf Tour of India . The EUR 1.8m Avantha Masters , tri-sanctioned by the European Tour , the Asian Tour and
136-587: The Chairman of Crompton Greaves on 22 July 2004. When Lalit Mohan Thapar retired, he chose his nephew Gautam over Vikram. In 2005, Lalit Mohan handed over the reins of the business empire to Gautam along with his voting rights, shares and most of his personal effects in his will. Gautam became the Chairman of the Group on 1 July 2006. On 29 August 2019, he was sacked as Chairman of CG Power and Industrial Solutions with immediate effect after an investigation that unearthed
153-510: The KCT group which includes KCT Coal Sales (KCT Bros), the Calcutta-based coal trading business. Vikram M. Thapar started Waterbase Ltd in the 90s with primary business of aquaculture including prawn farms for exports. After Lalit Mohan Thapar's death in 2007, his nephew Gautam Thapar (son of Brij Mohan Thapar and grandson of Karam Chand Thapar) formed Avantha Group and took the reins of BILT, which
170-515: The chance to his younger brother Lalit Mohan Thapar , giving lack of desire and inability to shoulder the responsibility as the reasons. Thapar was educated at The Doon School and obtained his undergraduate degree from St. Stephen's College (at Delhi University ). He later studied for an advanced degree in chemical engineering at the Pratt Institute in the United States. Failing to find
187-458: The flagship parent company of the Thapar Group, Karam Chand Thapar & Bros. Ltd., was formed. In the course of time, various companies owned and/or managed by K Thapar were brought under its umbrella. Born in 1900, Thapar died in 1963 and was survived by four sons: Inder Mohan Thapar, Brij Mohan Thapar, Lalit Mohan Thapar , and Man Mohan Thapar. Following Thapar's death, his third son Lalit
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#1733086191679204-569: The large European owned mining companies. A year later, in 1920, he set out for Calcutta, the erstwhile capital of India. That same year, he started a successful coal distribution business based out of Calcutta. As a leader, Thapar managed to consolidate a diverse group of investors and contractors, and incorporate them into his coal distribution network. Thapar did not focus on coal alone but also ventured into other fields like paper, textiles, chemicals, sugar as well as banking (Oriental Bank of Commerce) and insurance (United Indian Insurance). In 1929,
221-501: The parent company of Karam Chand Thapar & Bros. (Coal Sales) Ltd. (KCT). Having gained some experience of the coal industry in his youth, Thapar set out to establish his own coal trading business based out of the Jharia coalfields in 1919. Soon thereafter, he realized that the epicenter of the coal business was not where the mines were located, but in Calcutta, the then established base of all
238-677: Was arrested by authorities under the Prevention of Money Laundering Act (PMLA) on August 3 following raids that were conducted by the ED in Mumbai and Delhi according to a report by PTI. In December 2022, the CBI filed a charge sheet against Gautam Thapar as well as former CEO and Managing Director of Yes Bank Rana Kapoor for their alleged bank fraud. Thapar is the President of Thapar University and former Chairman of
255-579: Was disbanded in 2011. The club has competed in top tier leagues of India, National Football League (India) alongside Punjab State Super Football League . Karam Chand Thapar Karam Chand Thapar (1900–1962) was the founder of the Thapar Group of companies. He was originally from Punjab . He started his career in 1920 as a coal trader in Calcutta , and built up the family fortune through Karam Chand Thapar and Bros. He then started JCT Limited which
272-458: Was helpful in this. However, Lalit gave the reins of the bigger part of the company to Gautam Thapar , son of Brij Mohan, and gave the chemicals division to Vikram Thapar, the son of Inder Mohan. Karam Chand was survived by four sons, named above, and by at least one daughter, Mrs. Surinder Lal. The latter is the mother of two daughters: former bank CEO Naina Lal Kidwai , a former bank CEO, and of Nonita Lal Qureishi, whose husband, Faisal Qureishi,
289-403: Was made head of the business, with the undertaking that the latter would ensure that Inder Mohan's son would be given the reins after Lalit turns 65, and that all of Lalit's brothers would be given their due share of the family business. Lalit stood by his word to his dying father and did over the years divide the group among his brothers; the fact that he was a life-long bachelor with no children
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