Delhi High Court rejects bail request of Avantha Group promoter Gautam Thapar

The Delhi High Court on Wednesday dismissed the bail plea filed by Avantha Group promoter Gautam Thapar in the Yes Bank loan fraud case. (Detailed order expected) Judge Manoj Kumar Ohri issued the order after booking the same earlier this month. The Court heard lead counsel Mukul Rohatgi appear for Thapar in this case. The bail plea was opposed by Amit…

The Delhi High Court on Wednesday dismissed the bail plea filed by Avantha Group promoter Gautam Thapar in the Yes Bank loan fraud case. (Detailed order expected)

Judge Manoj Kumar Ohri delivered the order after booking the same earlier this month. The Court heard lead counsel Mukul Rohatgi appear for Thapar in this case. The bail plea was opposed by Amit Mahajan representing the Enforcement Branch.

Thapar was arrested in August last year in connection with allegations of embezzlement of funds granted by Yes Bank in the form of a loan.

An ECIR has been 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 embezzlement and embezzlement of public funds during the period 2017 to 2019, thereby causing losses amounting to Rs. 466.51 Crores to Yes Bank.

On August 3, the Enforcement Department raided the offices and residence of the defendants and subsequently arrested Thapar.

A local court denied him bail in October last year.

The High Court previously rejected Thapar’s plea challenging his arrest. He also filed a request for a copy of the ECIR, grounds for arrest and checklist prepared prior to his arrest.

Case Title: Gautam Thapar v. Law Enforcement Branch

Citation: 2022 LiveLaw (Deleted) 158

Comments are closed.