Lawstreet Journal

Delhi High Court Dismisses Avantha Thapar's Plea Challenging his Arrest in Yes Bank Loan Fraud Case

Lawstreet Journal 1 Oct 2021 5:55pm

Image courtesy: Lawstreet Journal Judiciary Delhi High Court Dismisses Avantha Thapar's Plea Challenging his Arrest in Yes Bank Loan Fraud Case

On Thursday (September 30, 2021), the Delhi High Court dismissed Avantha Group Promoter Gautam Thapar's petition challenging his arrest in connection with Yes Bank Leasing.

Justice Yogesh Khanna, who had reserved the order in the plea earlier this week, issued the order.

Mr. Gautam Thapar, M/s. Avantha Realty Ltd., M/s. Oyster Buildwell Pvt. Ltd., and others were charged with criminal breach of trust, cheating, criminal conspiracy, and forgery for diversion and misappropriation of public money from 2017 to 2019, causing Yes Bank losses of Rs. 466.51 crores.

On August 3, 2021 , the Enforcement Directorate raided the accused's offices and residence, and Thapar was arrested shortly after.

Justice Khanna is also hearing a petition filed by Thapar seeking a copy of the ECIR, the grounds for his arrest, and the checklist prepared prior to his arrest.

In a related development, a Delhi Court has requested the Enforcement Directorate's response to Thapar's bail application in the case.

Previously, the Court had placed Thapar in judicial custody following an application filed on behalf of the Enforcement Directorate.

Case Title: Gautam Thapar v. ED

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Tagged: Yes Bank  
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