1. You Are At:
  2. English News
  3. India
  4. Yes Bank fraud case: HC grants bail to Wadhawan brothers

Yes Bank fraud case: HC grants bail to Wadhawan brothers

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

PTI PTI
New Delhi Published on: August 20, 2020 12:54 IST
Yes Bank fraud case: HC grants bail to Wadhawan brothers
Image Source : FILE/PTI

Yes Bank fraud case: HC grants bail to Wadhawan brothers 

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. 

Latest India News

Write a comment