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Gautam thapar
Gautam Thapar: From A Rainmaker To An Economic Offender
Avantha Group promoter Gautam Thapar’s fall, currently lodged at Delhi’s Tihar jail, was swifter than his meteoric rise. A series of events dislodged the 61-year-old industrialist from his pedestal, the latest being a special CBI court denying him bail in an alleged fraud case. Thapar was arrested in August 2021 by the Enforcement Directorate for money laundering following a sale of property in Delhi. The property, mortgaged to Yes Bank against a loan by the Avantha Group, was purchased by another firm at much lower than prevailing market rates. Coincidentally, Yes Bank’s founder Rana Kapoor’s wife was a director on the board of the said firm. What led to Thapar’s fall from grace? A Doon School and, US-based Pratt Institute alumni, he joined the family business Thapar Group in 1980 and is credited with turning around many of the group’s ailing businesses. In 2007, he bought over the family enterprise, rechristening it as the Avantha Group. An over-ambitious Thapar launched into aggressive global acquisitions under Crompton Greaves and the BILT brands, even foraying into the power sector in 2008. All these ventures, however, bombed with accusations of financial fraud and corporate governance issues abounding thereafter. The group companies were taken over by lenders, and the ‘rainmaker’ turned into an economic offender even having “criminal antecedents”.

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Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.