The Delhi High Court on Friday granted regular bail to former Managing Director and CEO of YES Bank Rana Kapoor in a Rs 466.51 crore money laundering case New Delhi: The Delhi High Court on Friday granted regular bail to former Managing Director and CEO of YES Bank Rana Kapoor... The post appeared first on .

The Delhi High Court on Friday granted regular bail to former Managing Director and CEO of YES Bank Rana Kapoor in a Rs 466.51 crore money laundering case.

Mumbai (Maharashtra) [India], March 25 (ANI): 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.

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], March 2 (ANI): The Delhi High Court on Wednesday dismissed the 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], 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.

Mumbai (Maharashtra)[India], December 31 (ANI): The Enforcement Directorate (ED) has filed a chargesheet against Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, and Avantha group promoter Gautam Thapar at a Prevention of Money Laundering Act (PMLA) court in Mumbai in connection with the money laundering case.

New Delhi [India], November 30 (ANI): The Delhi High Court on Tuesday issued notice to ED on bail plea of Avantha Group promoter Gautam Thapar arrested in connection with a money laundering case relating to an alleged bank loan fraud case.

New Delhi Oct 30 PTI A Delhi court on Saturday dismissed the bail plea of Avantha Group promoter Gautam Thapar arrested in connection with a Rs 500-crore money laundering case Special judge Sanjeev Aggarwal noted that since huge loss of public money was involved in the case it needed to be viewed seriously and considered as grave offence affecting the economy of the country as a whole and thereby causing serious threat to the financial health of the nation The judge observed that economic offences have deep-rooted conspiracies involving huge loss of public funds The court noted that there were allegations that proceeds of crime to the tune of Rs 500 crore were generated in this case and were laundered and utilised in repayment of existing loans and meeting other expenses in conspiracy with the other accused persons arraigned in the complaint Considering the overall facts and circumstances since the allegations against the accused are grave and serious in nature no ground for bail is made out at this stage Consequently the bail application of accused Gautam Thapar is dismissed the judge said The court accepted the arguments made by special public prosecutors Amit Mahajan and N K Matta appearing for the Enforcement Directorate ED that the chances of accused fleeing the country cannot be ruled out The bail application filed by Karanjawala Co on behalf of Thapar had claimed that the accused was not required for the investigation and that no purpose would be served by keeping him in further custody The court recently took cognisance of a charge sheet filed in the case against Thapar and 20 others The final report alleged that the accused committed criminal breach of trust cheating criminal conspiracy and forgery for diversion and misappropriation of public money from 2017 to 2019 and caused a loss to the tune of Rs 46651 crore to YES Bank The ED was probing an alleged transaction between Thapars company Avantha Realty and YES Bank co-founder Rana Kapoor and his wife who are already being investigated under the Prevention of Money Laundering Act PMLA by the agency The money laundering case was filed by the ED after taking cognisance of an FIR lodged by the Central Bureau of Investigation PTI UK ZMN ZMN

New Delhi [India], October 23 (ANI): A Delhi Court on Saturday reserved the order on bail plea of Avantha Group promoter Gautam Thapar arrested in connection with a money laundering case relating to an alleged bank loan fraud case.