The Delhi High court today adjourned the hearing on the bail application of Avantha Group promoter, Gautam Thapar, the main accused in the Yes Bank loan fraud case, for tomorrow.
The matter was listed before the High Court for hearing on his bail plea of Thapar filed by a group of lawyers from Karanjawala and Co.
Opposing the bail application, Standing Counsel of the Enforcement Directorate (ED) Amit Mahajan, said that all allegations made against GautamThapar are well corroborated with the evidence and statements rendered by employees of Avantha Group and Yes Bank.
Mahajan said that the Officials of Oyster Buildwell Pvt. Ltd., a Company part led by Avantha Group had painted a sham agreement in connivance with officials of the Yes Bank, which got a green signal of sanctioning the loan by the accused Gautam Thapar and Rana Kapoor, chairman of Avantha group and Yes Bank respectively.
Further, Mahajan submitted that the earlier loans availed by Avantha Group have been used to buy properties abroad and the actual channels of all these transactions are still under investigation, but no criminal proceedings are pending relating to these transactions.
Opposing the bail petition, the ED lawyer argued, that the courts while deciding the economic offences should take into account, the nature of the offence and the character of the accused, so that the future won’t be at risk in case of granting bail to him.
The matter has been adjourned for tomorrow 10 February 2022 for further arguments.
Earlier the Special Court in Mumbai had rejected the bail application of Gautam Thapar saying that he is involved in a grave and serious economic offence. /LAB/SNG/