The CBI challenged the statutory bail granted to former Dewan Housing Finance Corporation Limited (DHFL) promoters Kapil Wadhawan and his brother Dheeraj in connection with a multi-crore bank loan scam case on December 5 by filing a petition with the Delhi High Court. The appeal will probably be heard on December 6. The CBI attorney requested an expedited listing of the case before a panel of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad.
Due to an “incomplete charge sheet,” the Central Bureau of Investigation (CBI) has contested a trial court’s ruling from December 3 giving the Wadhawan brothers statutory release.
According to the special court’s judgment, the two accused individuals may not be eligible for any bail given the gravity and importance of the case.
However, it claimed that because the charge sheet was incomplete, the court was “compelled” by statute to grant the mandatory concession of default bail, which resulted in their release from detention.
The special court explained that the law requires the accused to have an unassailable right to release on bail without a hearing on the merits if the charge sheet is not filed within 60 or 90 days of the accused’s detention, depending on the situation, or if it is filed but incomplete.
The Wadhawan brothers were detained in other cases that were pending in Mumbai and Lucknow as of April 2020, but they were already in prison in this case as of July 19, it was observed.
The charge sheet was submitted to the trial court in this location on October 15 and has since been given cognizance.
Wadhawans’ attorney, Vijay Aggarwal, requested their release on statutory bail on the grounds that a charge sheet against them that was incomplete was not legitimate or valid in the eyes of the law and that their judicial detention could not be prolonged in such a situation.
The then-CMD Kapil Wadhawan, the then-Director Dheeraj Wadhawan, and other accused individuals are alleged to have engaged in a criminal conspiracy to defraud the consortium of 17 banks led by Union Bank of India, according to the FIR based on a complaint made by DHFL. As a result of the said criminal conspiracy, the accused and others persuaded the consortium banks to sanction sizable loans totaling Rs 42,871.42 crore.
According to the CBI, a significant portion of that sum was allegedly siphoned off and misappropriated through alleged DHFL bookkeeping fraud and dishonest nonpayment of the consortium banks’ legal debts.
According to the complainant, the consortium banks suffered an unjustified loss of Rs 34,615 crore as a result of the quantification of the unpaid debt as of July 31, 2020.
News Mania Desk
