The Delhi High Court requested a status report on the bail plea of Dheeraj Wadhawan, accused in a bank loan scam case. The trial court had denied his bail request, leading to the High Court’s intervention. Pending the report, the hearing is scheduled for June 10. The Supreme Court had earlier canceled the bail granted to the Wadhawan brothers.
Dheeraj Wadhawan, former director of DHFL, detained for a fraud of over Rs 34,000 crore. He remanded to judicial custody following his arrest by the CBI. Wadhawan’s bail plea based on medical grounds rejected, and he has to remain in custody until May 30. The fraud involves a consortium of 17 banks and accusations of money laundering.
New Delhi: Recently, The Supreme Court upheld the National Company Law Appellate Tribunal’s order on disciplinary action against auditors, strengthening the National Financial Reporting Authority’s (NFRA) authority. The case involved a penalty and practice bar against an auditor due to lapses in DHFL’s audit. This decision sets a precedent for NFRA’s disciplinary measures in similar cases.
The Supreme Court overturned the default bail granted to DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan in a multi-crore loan scam case. The decision, following an appeal by the CBI, clarifies the statutory right of default bail and marks a significant development in the ongoing legal proceedings. The full judgment is awaited. (Word count: 50)
