Delhi Court: ED to have 14 days remand of Gautam Thapar

DELHI COURT DIRECTS ED TO HAVE FOURTEEN DAYS REMAND OF GAUTAM THAPAR

Snehal Upadhyay-

Published on August 06, 2021 at 9:55 AM

A Delhi Court remanded Avantha Group Promoter Gautam Thapar to Enforcement Directorate’s (ED) custody till 15th August in connection with the case of Yes Bank loan fraud.

The order was pronounced by Special Judge Sanjeev Aggrawal. Enforcement Directorate had brought the application to the Court in sought of 14 days remand of Thapar into their custody.

However, the Court had permitted Thapar to conduct a half an hour-long meeting in ED’s office with the lawyer who was representing him, namely, Mr. Sandeep Kapur.

An Enforcement Case Information Report (ECIR) was filed against Gautam Thapar, M/s. Avantha Realty Ltd., M/s. Oyster Buildwell Pvt. Ltd. and others, an accusation of criminal breach of trust, cheating, criminal conspiracy, and forgery for diversion and misappropriation of public money during the period 2017 to 2019 which adversely impacted Yes Bank, causing loss of around Rs 466.51 Crores.

On 3rd August, a raid was conducted by the ED against the officers and in the residence of the accused, after which Thapar was arrested by ED. 

Sandeep Kapur, representing Thapar, contended that the ED while claiming for his remand didn’t mention the appropriate reasons for which they require custodial interrogation.

The lawyer further stated that all the shreds of evidence that were submitted to the Court were documentary evidence and, hence, there was no need to have a custodial interrogation.

After hearing the arguments, the Court decided to send Thapar to ED remand for 14 days and disposed of all the pending applications on this case.

Also Read: SEBI slaps Rs 25 crore fine on YES bank in AT-1 bonds case

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