Home Business Bombay HC grants bail to Gautam Thapar, promoter of Avantha Group

Bombay HC grants bail to Gautam Thapar, promoter of Avantha Group

Bombay HC grants bail to Gautam Thapar, promoter of Avantha Group

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The Bombay Excessive Court docket on Friday granted bail to Avantha Group promoter Gautam Thapar within the case pertaining to alleged sale of a property located at Amrita Shergill Marg, New Delhi to an organization owned by Rana Kapoor’s spouse, Bindu Kapoor, for which an FIR had been registered by the Central Bureau of Investigation (CBI) in Mumbai final yr.

A single bench of Justice Anuja Prabhudessai granted bail to Thapar on a bond of Rs 2 lakh.

The CBI had registered an offence towards Thapar, Sure Financial institution founder Rana Kapoor and different accused underneath sections 120B (felony conspiracy), 420 (dishonest) of the Indian Penal Code (IPC) and sections 7, 11 and 12 of the Prevention of Corruption Act (PCA).

The path court docket had rejected the primary bail software of Thapar earlier in December 2021.

The Enforcement Directorate was probing an alleged transaction between Thapar’s firm Avantha Realty and Sure Financial institution co-founder Rana Kapoor and his spouse, who’re already being investigated underneath PMLA by the company.

Senior Advocate Mahesh Jethmalani appeared on behalf of Thapar, who’s represented by the legislation agency Karanjawala & Co. led by Sandeep Kapur, Senior Accomplice and comprising of Vivek Suri and Abhimanshu Dhyani and Ravi Sharma, advocates.

Jethmalani submitted that after registration of the FIR, the Avantha Group promoter joined the investigation as and when referred to as upon by the investigating company. Additional, it was argued that the chargesheet has been filed within the current case in October 2021 and summons have been issued pursuant to which Thapar entered look earlier than the trial court docket via counsel.

On October 1, 2021, the trial court docket had additionally taken cognisance of a chargesheet filed within the case towards Thapar and 20 others.

The ultimate report had alleged that the accused dedicated felony breach of belief, dishonest, felony conspiracy and forgery for diversion and misappropriation of public cash from 2017 to 2019 and brought about a loss to the tune of Rs 466.51 crore to Sure Financial institution.

Thapar was not arrested by CBI all through the investigation even earlier than the chargesheet was filed and summons have been issued by the path court docket, as per the submission.
 
Accordingly, it was submitted that the current case is squarely lined underneath the rules issued by the Supreme Court docket concerning grant of bail in case titled as “Satender Kumar Antil v. CBI & Anr.” dated 07.10.2021 and the clarification order dated 16.12.2021 therein.

Hiten Venegaonkar, Ld. Sr. public prosecutor appeared on behalf of the respondent, CBI.

To make certain, Thapar has been granted bail in each the CBI and Enforcement Directorate issues associated to the 40, Amrita Shergill Marg property.

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