Court Reserves order on Gautam Thapar Bail Plea till Oct. 30

A Delhi court on Saturday reserved its order till October 30 on a bail plea moved by Avantha Group promoter Gautam Thapar who was arrested in connection with a Rs.500-crores money laundering case. Thapar is currently in judicial custody.

Special Judge Sanjeev Aggarwal reserved his order on Thapar bail plea after hearing arguments from both sides.

During the arguments, special public prosecutors Amit Mahajan and NK Matta, appearing for the ED, opposed the bail application, saying that if released, the accused might hamper the ongoing investigation and flee from justice.

The bail application, filed by Karanjawala & Co on behalf of Thapar, claimed that the accused was not required for the investigation and that no purpose would be served by keeping him in further custody.

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.466.51 crores to YES Bank S-ET

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