Avantha Group promoter denied interim bail on his arrest for alleged misuse of ₹515 crore loan

A special court here on Thursday dismissed the interim bail application of Avantha Group promoter Gautam Thapar, who was arrested in connection with the alleged misappropriation of a Rs 515 crore loan from Yes Bank.

The Special Judge, Rouse Avenue Court Complex has dismissed the interim bail application of Thapar, which was filed on medical grounds, citing his deteriorating health.

During the course of proceedings, the judge requisitioned the medical status report of Thapar from the Chief Medical Officer, Tihar Jail, where he is currently lodged in.

The medical officer-in-charge of the Central Jail opined that Thapar continues to have persistent left-sided chest pain, palpitations, vertigo, blackouts, severe lumbar pain, and his previous records show severe co-morbidities. The report further stated that any delay in investigation and intervention may lead to irreversible damage.

Counsel for Directorate of Enforcement, N.K. Matta, strongly objected to bail, stating that the jail authorities are well equipped to provide necessary treatment.

Thapar was represented by counsel Sandeep Kapur, Senior Partner, Karanjawala & Co., and his team comprising Vir Sandhu, Rajat Soni, Vivek Suri, Mridul Yadav, Abhimanshu Dhyani, and Sahil Modi. The team had briefed senior advocate N. Hariharan to appear on behalf of Thapar.

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