Today, On 5th August, The Supreme Court cancelled the bail granted to DHFL’s Dheeraj Wadhawan in the multi-crore bank loan scam case and directed him to surrender within two weeks. The Court found serious allegations and misuse of relief.
The Supreme Court revoked the bail previously granted to Dheeraj Wadhawan, the former promoter of DHFL, in connection with the multi-crore bank loan scam.
A bench comprising Justices Sanjay Kumar and Satish Chandra Sharma issued the order after reviewing a report from a medical board, instructing Wadhawan to surrender within two weeks.
The Delhi High Court had approved his bail on September 9, 2024, citing medical reasons and classifying Wadhawan as a “sick person.”
This decision followed an appeal from the CBI challenging the high court’s ruling.
Additional Solicitor General S V Raju, representing the agency, argued that Wadhawan did not suffer from any serious medical conditions and highlighted the significant sum of money allegedly diverted in the case.
The Wadhawan brothers, Kapil and Dheeraj, were arrested in July 2022.
The CBI submitted a chargesheet in October 2022, which was acknowledged by the court. The FIR originated from a complaint by the Union Bank of India, which accused DHFL’s then chairman and managing director, Kapil Wadhawan, and director, Dheeraj Wadhawan, along with others, of conspiring to defraud a consortium of 17 banks led by the Union Bank of India.
In executing this conspiracy, the accused allegedly persuaded the consortium to approve massive loans totaling Rs 42,871.42 crore.
The CBI claimed that a significant portion of this money was misappropriated through falsification of DHFL’s financial records and deliberate defaults on legitimate repayments to the consortium banks.