Sunday, Nov 01, 2020 | Last Update : 01:59 AM IST

  Business   Companies  20 Aug 2020  Bombay High Court grants bail to Wadhawan brothers in Yes Bank fraud case

Bombay High Court grants bail to Wadhawan brothers in Yes Bank fraud case

PTI
Published : Aug 20, 2020, 1:50 pm IST
Updated : Aug 20, 2020, 1:50 pm IST

The court directed the duo to deposit Rs one lakh each as surety and surrender their passports

Representational image (PTI photo)
 Representational image (PTI photo)

Mumbai: The Bombay High Court on Thursday granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused of money laundering by the Enforcement Directorate in the multi-crore Yes Bank fraud case.

Justice Bharati Dangre granted them bail as the Enforcement Directorate (ED) failed to file its charge sheet against them in the case within the stipulated 60-day period.

 

The court directed the duo to deposit Rs one lakh each as surety and surrender their passports.

The brothers, however, will remain in jail as they have also been booked by the Central Bureau of Investigation (CBI) in the same case.

They had sought bail claiming the ED failed to file its charge sheet within the stipulated period of 60 days.

The brothers were arrested by the ED on May 14 on money laundering charges.

The ED filed its charge sheet on July 15 against the Wadhawans, Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, daughters Roshni and Rekha, and their chartered accountant firm Dularesh K Jain and Associate.

The Enforcement Directorate had initiated proceedings in the case after the CBI registered an FIR on March 7, 2020 in connection with alleged suspicious loans granted by Yes Bank and the 'quid pro quo' between Rana Kapoor and the Wadhawans.

 

Tags: wadhawan brothers, yes bank fraud case, dewan housing finance corporation ltd (dhfl), rana kapoor
Location: India, Maharashtra, Mumbai (Bombay)