[5] Thapar was noted for using his political influence to maintain a competitive advantage for his paper business.
[6] Early in India's economic liberalisation, Thapar was a vocal member of the Bombay Club, which was an unofficial grouping of Indian businesses that stood against the opening up of the economy to increased competition.
[8] In 1984, Thapar was arrested by the Enforcement Directorate (ED) and released on bail for allegedly violating the Foreign Exchange Regulation Act (FERA).
[9][10] He had also earlier denied the allegations, but later plead guilty after learning the depth of the ED's investigation.
[10] Single and a resident of New Delhi's upmarket Amrita Shergill Marg, Thapar was fond of the good life and was known for being charming and polished.
[11] Thapar maintained a residence on the banks of the Ganga river in Rishikesh where he would host foreign dignitaries including former Indonesian President Megawati Sukarnoputri.
[13] He funded a project to document and verify data with regard to dead martyrs of the Indian Armed Forces at a time when publicly getting such accurate information was difficult.