Published On: October 12, 2021 at 13:29 IST
A Court in Delhi gave a two weeks’ time to Gautam Thapar, promoter of Avantha Group to file the written submissions as well as advance arguments to support his Bail Application in a Rs 500-crore money laundering case.
Special judge Sanjeev Aggarwal ordered the Advocates appearing for Thapar to submit documents by the next hearing of the Court.
The Court passed such orders after Gautam asked for some time to respond to Enforcement Directorate (ED) reply to the Bail Application.
While Advocates Amit Mahajan and N K Matta who were appearing for ED, opposing the Bail Application argued that the accused might tamper the ongoing investigation and also can flee from justice if released.
On the other hand, Karanjawala & Co representing Thapar, stated that there was no requirement for the investigation of Thapar and keeping him in further custody is of no use.
Recently, the Court took cognisance of the charge sheet filed against Thapar and 20 others and then summoned all the accused and the group companies on five dates from October 20 to November 30, adhering to the COVID-19 protocols.
In the final report, Thapar was accused of committing criminal breach of trust, cheating, criminal conspiracy and forgery.
Thapar was accused for rerouting and misappropriating of the money of common people from the time period of 2017 to 2019 and the action also caused loss to the tune of Rs 466.51 crore to YES Bank.
It should be noted here that the ED was investigating a transaction between Thapar’s company Avantha Realty and Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.