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DHFL case: Delhi court grants bail to Wadhwan brothers in multi-crore scam

The National Company Law Tribunal (NCLT) had on June 7, 2021, approved the resolution plan for DHFL’s reverse merger with Piramal Capital and Housing Finance Limited.

May 14, 2022 / 01:20 PM IST

A Delhi court has granted bail to Dheeraj Rajesh Wadhawan and Kapil Rajesh Wadhawan, ex-promoters of Dewan Housing Finance Corporation Ltd (DHFL) in the alleged multi-crore scam case, ANI reported on May 14.

"In the present case as well, the applicant/accused persons- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan were not arrested during the investigation. A supplementary chargesheet was filed against them without arrest. Investigation Officer (IO) in his reply to the bail applications has stated that there is no requirement of custody", said Additional Sessions Judge Reetesh Singh while granting bail.

Senior Public Prosecutor appearing for the Economic Offences Wing of the Delhi Police and the Advocate appearing for the complainants opposed the bail applications, the report added.

Last month, the Enforcement Directorate (ED) alleged that Yes Bank co-founder Rana Kapoor and Dewan Housing Finance Limited (DHFL) promoters Kapil and Dheeraj Wadhawan siphoned off funds worth Rs 5,050 crore through suspicious transactions.

The ED said this in its second supplementary (third overall) charge sheet filed in special court here recently against Rana Kapoor, his family, Wadhawans and others in a money laundering case.

The National Company Law Tribunal (NCLT) had on June 7, 2021, approved the resolution plan for DHFL’s reverse merger with Piramal Capital and Housing Finance Limited.



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Moneycontrol News
first published: May 14, 2022 12:58 pm
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