A special court that, on Tuesday, rejected the bail plea of Avantha Group promoter and businessman Gautam Thapar in a loan fraud case concerning Yes Bank, has said in its detailed order that there is a possibility of him influencing witnesses, some of whom are his employees.
The case pertains to a loss of Rs 1,800 crore to the bank caused by the Avantha Group.
The bank’s then MD and CEO Rana Kapoor is said to have obtained a prime property in Delhi on Amrita Shergill Marg for extending concessions and waivers to the group in credit facilities already availed by it, as also for extending further credit facilities. Kapoor’s wife Bindu Kapoor is also a co-accused in the case. She was the director of the firm which purchased the bungalow belonging to the group that had been mortgaged to Yes Bank at much below the market price.
Special Judge MR Purwar said in his order that from the chargesheet and connected papers, prima facie the allegations are that he and his co-accused committed offence which resulted in serious dent to the financial health of state. Judge Purwar further said that prima facie the allegations are sufficient to show his complicity and the court is not inclined to grant relief in the larger interest of society.
