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Bail granted by the Bombay High Court to the duo-promoters of DHFL in Yes Bank Case on 21August


In the recent money laundering case of YES BANK, The Bombay High Court has granted bail to the duo accused, namely, Mr. Kapil Wadhawan and Dheeraj Wadhawan, who were the promoters of the Dewan Housing Finance Corporation Ltd. (DHFL). The decision of the Justice Bharti Dangre granting them bail was directed over the failure of the Enforcement Directorate (ED) to file a charge sheet against them in the case within the stipulated 60-day period. The Bail was granted with effect to deposit of Rs one lakh each as surety and surrender their passports.


Nevertheless, the brothers are supposed to remain in jail as the duo have also been booked by the Central Bureau of Investigation (CBI) in the same case. The only reason for the application for the bail was the default on the part of the ED to file its charge sheet within the mandated period of 60 days. The brothers were arrested by the ED on May 14 on money laundering charges.


The ED filed its charge sheet on July 15 against the Wadhawans, Yes Bank founder Rana

Kapoor, his wife Bindu Kapoor, daughters Roshni and Rekha, and their chartered accountant firm Dularesh K Jain and Associate.


The proceeding for the duo was initiated by the Enforcement Directorate right after the CBI registered an FIR on March 7, 2020. The FIR registered was in relation to the alleged suspicious loans granted by Yes Bank and the "quid pro quo" between Rana Kapoor and the Wadhawans.


On the other hand, the special CBI Court has rejected the anticipatory bail appeal for the founder of the YES BANK, Rana Kapoor. The CBI charged Rana Kapoor for cheating and conspiracy over his alleged deal with the Dewan Housing Finance Corporation Ltd.




#CBI

#BombayHighCourt

#YESBank

#DHFL

#Bail

#Moneylaundering

#ED