Delhi Court Remands Avantha Group Promoter Gautam Thapar To Judicial Custody In Yes Bank Loan Fraud Case

A Delhi Court has remanded Avantha Group Promoter Gautam Thapar to 14 days judicial custody in connection with the Yes Bank loan fraud case.

The development came after Special Judge Sanjeev Aggarwal had sent Thapar to Enforcement Directorate's custody which expired on August 15. An application seeking judicial custody was therefore filed on behalf of the Enforcement Directorate.

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.

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 Enforcement Directorate, the Court sent Thapar to 14 days ED remand.

In a similar development, the Delhi High Court has today sought response of Enforcement Directorate on two pleas filed by Thapar challenging his arrest and also for 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