New Delhi [India], May 27 (ANI): The Delhi High Court on Friday granted eight-week interim bail to businessman Gautam Thapar Avantha Group, the promoter in a money laundering case.

New Delhi [India], May 23 (ANI): After the trial court dismissed his bail application in a money laundering case last week, the Delhi High Court (HC) on Monday issued a notice to Enforcement Directorate (ED) on an interim bail plea moved by businessman Gautam Thapar, an Avantha group promoter on medical grounds.

New Delhi [India], May 19 (ANI): Delhi's Special Court on Thursday has dismissed the interim Bail Application moved on medical grounds, on behalf of Avantha Group Promoter Gautam Thapar in a money laundering case linked to an alleged bank loan fraud of Rs 515 crore.

Mumbai Mar 25 PTI The Bombay High Court on Friday granted bail to Gautam Thapar the promoter of Avantha Group and non-executive chairman of Avantha Realty in connection with the Yes Bank fraud case involving a transaction of Rs 307 crore with the realty company A single bench of Justice Anuja Prabhudessai granted bail to Thapar on a bond of Rs 2 lakh The CBI had registered an offence against Thapar Yes Bank founder Rana Kapoor and other accused under sections 120B criminal conspiracy 420 cheating of the Indian Penal Code IPC and sections 7 11 and 12 of the Prevention of Corruption Act PCA According to the investigating agency Kapoor the prime accused in the case had acquired property belonging to Avantha at a prime location in Delhi at a considerably lower price than its market value The allegation was that Kapoor had official dealings in the form of loans with Avantha The CBI has alleged that Thapar had entered into a criminal conspiracy with Kapoor for the purpose of cheating The central agency filed a chargesheet on October 8 2021 Thapar was arrested by the ED in a money laundering case registered by it based on the CBI probe Thapars counsel Mahesh Jethmalani along with Karanjawala and Co firm stated that after the FIR was registered Thapar had participated in the investigation as and when he was called upon Advocate Hiten Venegaokar for the CBI argued that Thapar along with co-accused Rana Kapoor and his wife Bindu Kapoor had hatched a criminal conspiracy in various financial transactions and committed fraud Yes Bank had already extended credit facilities of approximately Rs 2500 crore to various Avantha companies and yet a loan of Rs 400 crore was granted it was submitted PTI SP ARU ARU

New Delhi [India], February 11 (ANI): The Delhi High Court on Friday reserved the order on a bail application of Gautam Thapar, Avantha Group promoter in a money laundering case linked to an alleged bank loan fraud of Rs 515 crore.

New Delhi [India], January 20 (ANI): A Delhi Court on Thursday allowed the bail applications moved on behalf of employees of the Avantha Group Companies, who have been arraigned as co-accused in an alleged case of wrongful loss to YES Bank, to the tune of rupees Rs 466.51 crore, registered by the Enforcement Directorate(ED).

New Delhi Sep 27 PTI A Delhi court on Monday directed the Enforcement Directorate to file by October 1 its response on the bail application of businessman and Avantha Group of companies promoter Gautam Thapar in connection with a money laundering caseSpecial judge Sanjeev Aggarwal granted three more days to the ED after the agency sought time to file its reply to Thapars pleaThe court will further hear the matter on October 1The application has claimed that the accused was no longer required for custodial interrogation and no purpose will be served by keeping him in further custodyThe bail application moved through the law firm Karanjawal Co claimed that there was no possibility of the accused tampering with the evidence or influence the witnessesThapar 60 was arrested under the Prevention of Money Laundering Act PMLA on August 3 after the agency carried out raids against him and his linked businesses in Delhi and MumbaiThe ED was probing an alleged transaction between his company Avantha Realty Yes Bank co-founder Rana Kapoor and his wife who are already being investigated under the PMLA by the agencyThe case of money laundering was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation CBIThe FIR lodged by the CBI alleged that Rana Kapoor then MD and CEO of Yes Bank Limited obtained illegal gratification in the form of a property in a prime location in Delhi at much less than the realisable market value belonging to Avantha Realty Ltd for sanction of a loan to ARL and extending concessions relaxations and waivers in the already existing credit facilities provided to Avantha Group companies and for advancing new and additional loans to them by Yes Bank LtdThe CBI had last year booked Kapoor and his wife Bindu for allegedly obtaining a bribe of Rs 307 crore through the purchase of a bungalow in a tony Delhi area from a realty firm at half the market price and facilitating around Rs 1900 crore bank loans to it in returnThe CBI suspected that the discounted transaction for the 12 acre-bungalow on Amrita Shergill Marg in Delhi was a gratification to Kapoor through the company Bliss Abode Pvt Ltd in return for non-realization of over Rs 1900 crore in loans from Yes Bank to Avantha Realty and group companiesIn June 2021 the CBI had booked Thapar and others in a fresh case of fraud of Rs 2435 crore in the State Bank of India SBI and other banks to probe an alleged fraud case at the CG Power and Industrial Solutions PTI UK RKS RKS