Bombay HC grants bail to businessman Gautam Thapar in Yes Bank fraud case

Bombay High Court on Friday granted bail to the promoter of Avantha Group of Companies, Gautam Thapar in connection with the Yes Bank fraud case.

According to CBI, Kapoor, the prime accused in the Yes Bank case, had acquired property belonging to Avantha at a prime location in Delhi at a considerably lower price than its market value.

An FIR was registered by the Central Bureau of Investigation (CBI) in Mumbai last year in connection with the sale.

Gautam Thapar is facing the Enforcement Directorate and CBI investigation in connection with the Yes Bank fraud case involving a transaction of Rs 307 crore with the realty company.

The realty company is owned by Bindu Kapoor, wife of YES Bank promoter Rana Kapoor.

The CBI has alleged that Thapar had entered into a criminal conspiracy with Rana Kapoor for the purpose of cheating.

Thapar moved to Bombay High Court after Trial Court rejected the first bail application earlier in December 2021.

Senior Public Prosecutor Hiten Venegaonkar appearing on behalf of CBI argued that it is not the correct time to give bail to Thapar.

Senior Advocate Mahesh Jethmalani appeared on behalf of Gautam Thapar, along with Karanjawala and Co law firm, argued before the court that after registration of the FIR, Thapar joined investigation as and when called upon by the investigating agency.

Further, it was argued by Jethmalani that the chargesheet has been filed in the present case in October 2021 and summons were issued pursuant to which Thapar entered appearance before the Trial Court through Counsel.

"However, Thapar was not arrested by CBI throughout the investigation even before the chargesheet was filed and summons were issued by the Trial Court," said Jethmalani.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor