Bombay High Court has granted bail to the Dewan Housing Finance Corporation Ltd (DHFL) promoters Kapil Wadhawan and Dheeraj Wadhawan, accused in a money laundering case in context to YesBank fraud case by Enforcement Directorate.
Justice Bharati Dangre has granted them bail with the directions to deposit ₹1 lakh surety each and also deposit their passport to the investigators.
Wadhawan brothers had sought the bail on the grounds that Enforcement Directorate has failed to file the charge sheet in the scam within stipulated 60 days of arrest.
ED had arrested the Wadhawan brothers on May 14 and filed a charge sheet against Wadhawan brothers, Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, daughters Roshni and Rekha, and their chartered accountant firm Dularesh K Jain and Associate.
But they will still remain in jail as Central Bureau of Investigation is also investigating the matter.
Enforcement Directorate has booked Wadhawan brothers after CBI registered an FIR in connection to the alleged suspicious loans granted by Yes Bank and the ‘quid pro quo’ between Rana Kapoor and the Wadhawans on March 7, 2020. Rana Kapoor and his family members were booked under various relevant sections of IPC including conspiracy, cheating and also under provisions of the Prevention of Corruption Act, 1988. YesBank is alleged to have invested Rs 3700 crore in DHFL during the year 2018.
Additional Solicitor General Anil Singh has requested the court to stay the bail order at least for two weeks. Justice Bharati Dangre has rejected the request and stated, ” the settled legal position is that once the right of default bail is due, the accused cannot be kept in custody thereafter even for a day.”
