Yes Bank Loan Fraud Case: Delhi Court Denies Bail To Avantha Group Promoter Gautam Thapar

A Delhi Court on Saturday rejected the bail application filed by Avantha Group Promoter Gautam Thapar in connection with the Yes Bank loan fraud case.

Special Judge Sanjeev Aggarwal denied bail to Thapar after reserving the order last week. 

The Court had sent Thapar to judicial custody after an application was filed on behalf of the Enforcement Directorate.

An ECIR was registered against Gautam Thapar, M/s. Avantha Realty Ltd., M/s. Oyster Buildwell Pvt. Ltd. and others, alleging criminal breach of trust, cheating, criminal conspiracy and forgery for diversion and misappropriation of public money during the period 2017 to 2019, thereby causing losses to the tune of Rs. 466.51 Crores to Yes Bank. 

The Enforcement Directorate had on August 3 raided the offices and residence of the accused persons and arrested Thapar thereafter.

Earlier, it was argued on behalf of Thapar that the Enforcement Directorate, while seeking his remand, did not specify the reasons for which they require custodial interrogation.

It was also submitted that since the evidence in the case was primarily documentary in nature, custodial interrogation of Thapar was not required.

After hearing the counsel appearing on behalf of Thapar and the Enforcement Directorate, the Court sent Thapar to 14 days ED remand.

In related news, the Delhi High Court dismissed Thapar's plea challenging his arrest. He has also filed an application seeking copy of ECIR, grounds of arrest and the checklist prepared before his arrest.

Appearance: Advocate Vijay Aggarwal briefed by Mr. Sandeep Kapur, Senior Partner, Karanjawala & Co. represented Thapar.

Case Title: Gautam Thapar v. Enforcement Directorate