Former DHFL promoters Wadhawan brothers get bail in multi-crore scam
New Delhi: A court here has granted bail to former Dewan Housing Finance Corporation Limited (DHFL) promoters Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan in a multi-crore scam case.
Granting bail after the hearing on Friday, Additional Sessions Judge Ritesh Singh said: “Even in the present case, the applicant/accused persons- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan were not arrested during investigation. A supplementary charge sheet was filed. without arrest against them. The Investigating Officer (IO), in response to the bail applications, has said that there is no need for custody.
According to the FIR, the Wadhawans were charged under sections 420, (cheating and dishonestly inducing delivery of property) 406 (punishment for criminal breach of trust) 409 (criminal breach of trust by public servant, or banker, merchant or agent) was, 120-B (criminal conspiracy to commit offence) of the Indian Penal Code (IPC), in respect of an agreement to sell flats under a project “Good luck – Ad Tecoms” at Noida.
The counsel for the petitioners submitted that their client is presently lodged in Mumbai jail in another FIR related to the Punjab and Maharashtra Co-operative Bank (PMC) fraud case and argued that there is no question of his escape or tampering with evidence. On the other hand, the prosecution argued that DHFL allowed Gumbhav Bilttech Pvt Ltd to divert public funds and the loan amount sanctioned by DHFL to individual home buyers was remitted back to DHFL through an escrow account, thereby allowing DHFL to Wrong profit and wrong loss to the house. buyer.
Last year, the Central Bureau of Investigation (CBI) registered a case against the Wadhawan brothers, who were accused of several financial mismatches, in connection with a scam related to the Pradhan Mantri Awas Yojana (PMAY).
According to the central probe agency’s FIR, the Wadhawan brothers had created fake home loan accounts worth over Rs 14,000 crore and availed Rs 1,880 crore in interest subsidy from the central government.