Monday, March 4, 2024

Yes Bank fraud: ED in SC, wants Bombay HC bail for Wadhawan brothers cancelled

New Delhi: The Enforcement Directorate (ED) has filed an appeal before the Supreme Court against the Bombay High Court’s order granting bail to the Wadhwan brothers in the multi-crore Yes Bank Fraud case.

The Bombay High Court on August 20, granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused of money laundering in the Yes Bank fraud case.

The bench headed by Justice Bharati Dangre granted bail to the Wadhwan brothers, since the ED had failed to file its charge sheet against them in the case within the stipulated 60-day period.

The ED had, however, submitted that it had filed part of the charge sheet by email a day before the 60-day period ended. 

The Wadhwan brothers will still be behind the bars since they are in custody of the Central Bureau of Investigation (CBI) in the same case.

The brothers were arrested by the ED on May 14 and initiated proceedings in the case after the CBI registered an FIR on March 7 in connection with alleged suspicious loans granted by Yes Bank and the ‘quid pro quo’ between Rana Kapoor and the Wadhawans.

– India Legal Bureau


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