Supreme Court cancelled bail granted to former DHFL promoter Dheeraj Wadhawan, directing him to surrender within two weeks, after reviewing a medical board report.
The bail was initially granted by the Delhi High Court in September 2024 on medical grounds, which the CBI challenged, claiming Wadhawan had no serious ailments.
The case involves an alleged ₹42,871 crore loan fraud, where the Wadhawan brothers and others are accused of cheating a 17-bank consortium led by Union Bank of India.
The CBI alleges the funds were siphoned off through book falsification and wilful default, with a chargesheet filed in October 2022 following their arrest in July 2022.
SC Cancels Bail Granted to Dheeraj Wadhawan in Loan Scam Case, Directs him to Surrender in 2 Weeks
A bench of Justices Sanjay Kumar and Satish Chandra Sharma passed the order after perusing the report filed by a medical board and directed Wadhawan to surrender within two weeks
Supreme Court of India Wikipedia
Summary
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The Supreme Court on Tuesday cancelled bail granted to former DHFL promoter Dheeraj Wadhawan in the multi-crore bank loan scam case.
A bench of Justices Sanjay Kumar and Satish Chandra Sharma passed the order after perusing the report filed by a medical board and directed Wadhawan to surrender within two weeks.
The Delhi High Court on September 9, 2024 granted him bail on medical grounds saying Wadhawan fell within the parameters of a "sick person".
The order came on an appeal filed by the CBI appeal against the high court order.
Additional Solicitor General S V Raju, representing the agency, had earlier said said Wadhawan suffered from no serious medical ailments and huge amounts of money were siphoned off in the case.
The Wadhawan brothers -- Kapil and Dheeraj-- were arrested in this case in July 2022.
The agency filed a chargesheet in October 2022 following which a court took its cognisance.
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The FIR was registered on a complaint made by the Union Bank of India, which alleged DHFL, the housing finance company's then chairman-cum-managing director Kapil Wadhawan, then director Dheeraj Wadhawan and other accused entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India, and in pursuance of the criminal conspiracy, the accused and others induced the consortium to sanction huge loans aggregating ₹42,871.42 crore.
Much of the amount was allegedly siphoned off and misappropriated by alleged falsification of the books of the DHFL and dishonest default in repayment of legitimate dues of the consortium banks, the CBI claimed.
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