Gautam Thapar gets bail in Yes Bank case

The Bombay High Court granted bail on Friday to Gautam Thapar, promoter of the Avantha Group of companies, in the alleged fraud caused to Yes Bank Ltd.

However, Thapar won't be able to walk out of the jail as he is also facing other cases pertaining to the alleged fraud, where the accused also include former Yes Bank managing director Rana Kapoor.

The case on which he got bail pertains to alleged malpractices in loans given by Yes Bank to Thapar and the subsequent purchase of a bungalow by Kapoor and his wife in Delhi's Amrita Shergill Marg from Avantha Realty. The price paid for the property was much less than the market value and this was for the relaxation of rules for other existing loans of the Avantha Group and for giving new loans, the CBI had alleged.


The trial court had rejected an earlier bail application in December 2021.

Senior advocate Mahesh Jethmalani,along with Sandeep Kapur of law firm Karanjawala & Co, appeared on behalf of Thapar.

Thapar submitted that after registration of the FIR, he had appeared before the investigation agency as and when he was asked to.