SC Cancels Bail For Ex-DHFL Promoter Dheeraj Wadhawan In Loan Scam Case, Directs To Surrender In 2 Weeks

(MENAFN- Live Mint) SC has cancelled the bail granted to ex-DHFL promoter Dheeraj Wadhawan in a loan scam case and directed him to surrender in two weeks, reported PTI on Tuesday.

A bench comprising Justices Sanjay Kumar and Satish Chandra Sharma issued the order after reviewing a medical board's report and instructed Wadhawan to surrender within two weeks.

On September 9, 2024, the Delhi High Court granted him bail on medical grounds, stating that Wadhawan was a“sick person.”

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The order was issued following an appeal filed by the CBI against the High Court's decision.

Representing the agency, Additional Solicitor General S V Raju earlier stated that Wadhawan did not have any serious medical conditions and that large sums of money were siphoned off in the case.

In July 2022, the Wadhawan brothers, Kapil and Dheeraj were arrested in this case. The agency submitted a chargesheet in October 2022, after which a court acknowledged the case.

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The FIR was filed based on a complaint from Union Bank of India, alleging that DHFL, along with its then chairman-cum-managing director Kapil Wadhawan, then director Dheeraj Wadhawan, and other accused individuals, conspired to cheat a consortium of 17 banks led by Union Bank of India. As part of this conspiracy, the accused and others allegedly persuaded the consortium to approve large loans totalling ₹42,871.42 crore.

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The CBI claimed that a significant portion of the funds was allegedly siphoned off and misappropriated through falsification of DHFL's books and dishonest default in repaying the legitimate dues of the consortium banks.

In June this year, the Supreme Court urged the Delhi High Court to decide promptly on the bail plea of Kapil Wadhawan in the multi-crore bank fraud case. He had approached the apex court seeking an expeditious disposal of his petition, stating that his bail petition had been adjourned several times.

(With inputs from agencies.)

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