Delhi Court Remands Avantha Group Promoter Gautam Thapar To ED Custody Till August 15 In Yes Bank Loan Fraud Case

A Delhi Court on Thursday remanded Avantha Group Promoter Gautam Thapar to Enforcement Directorate's custody till August 15 in connection with Yes Bank loan fraud case.

Special Judge Sanjeev Aggarwal pronounced the order after hearing at length counsel appearing on behalf of Thapar and Enforcement Directorate which had moved the application seeking 14 days remand for Thapar.

The Court however allowed Thapar to have a half an hour long meeting with his lawyer, Mr. Sandeep Kapur, Senior Partner, Karanjawala & Co. this evening, in ED's office.

An ECIR was registered against Mr. 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.

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 Enforcement Directorate, the Court sent Thapar to 14 days ED remand and disposed of all the pending applications in the matter.

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