Yes Bank Loan Fraud Case: Delhi High Court Reserves Order On Bail Plea Of Avantha Group Promoter Gautam Thapar

The Delhi High Court on Friday reserved order on the bail plea filed by Avantha Group Promoter Gautam Thapar in connection with the Yes Bank loan fraud case.

Justice Manoj Kumar Ohri reserved the order after hearing Senior Advocate Mukul Rohatgi appearing for Thapar in the matter. The bail plea was opposed by Amit Mahajan representing Directorate of Enforcement.

Thapar was arrested in August last year in connection to the allegations of misappropriation of funds granted by Yes Bank in the form of Loan.

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.

A local court had denied him bail in October last year.

The High Court had earlier 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.

Case Title: Gautam Thapar v. Enforcement Directorate