The Rouse Avenue Court in Delhi had dismissed the statutory bail plea of former Dewan Housing Finance Corporation Limited (DHFL) promoters, Kapil Wadhawan and his brother Dheeraj, arrested by the CBI in connection with a multi-crore bank loan scam case. The two accused were arrested in the present FIR on July 19.
According to the FIR based on a complaint made by Union Bank of India, DHFL, Kapil Wadhawan, the then CMD, Dheeraj Wadhwan, the then Director, and other accused persons allegedly entered into a criminal conspiracy to cheat the consortium of 17 banks led by Union Bank of India and in pursuance of the said criminal conspiracy the said accused Kapil Wadhwan and others induced the consortium banks to sanction huge loans aggregating to ₹42,871.42 crore.
The accused had claimed before the court that since the CBI failed to file the charge sheet against them within the mandatory 60-day period from their arrest, they had “indefeasible right” to statutory bail, also known as default bail, in…
