Bombay HC grants bail to industrialist Gautam Thapar in CBI case – Times of India

MUMBAI: Bombay high court bench of Justice Anuja Prabhudessai on Friday granted bail to industrialist Gautam Thapar in the CBI case FIR registered on March 12, 2020. Thapar was summoned under a section 41A notice under the criminal procedure code for his explanation and Co-operated with the investigation said his senior counsel Mahesh Jethmalani with advocates Sandeep Kapur and Gunjan Mangla.
A chargesheet was filed on October 8, 2021, and a summons was issued by the special Judge to which he appeared and filed for bail which was rejected on December 21, 2021.
The case of the prosecution was that he sold an immovable property to Rana Kapoor and Bindu Kapoor in Delhi at an undervalued price to get loans from Yes Bank.
Jethmalani pointed out that the accusations cannot be correct because the loan was disbursed on March 31, 2016, and the property was sold in September 2017. He also said that Thapar was not arrested during the investigation and hence going by the judgment of the Supreme Court in a recent case he ought to be granted bail as his custody was not thought necessary by the agency earlier.
The court considered the facts and judgments and held that since he was not arrested during investigation and chagresheet has been filed no purpose will be served by keeping him in custody when the trial is not likely to start anytime soon.
Furthermore, in view of the Supreme Court judgment dated December 16, 2021, it has been held that even in economic offences principles govern the rights of the accused and directed that Thapar be released on bail on a bond of Rs 2 lakhs along with the surety of like amount.