June 15, 2024

![CBI Opposes Statutory Bail Granted To DHFL’s Wadhawans In Loan Scam Case](https://investmentshoax.com/wp-content/uploads/2024/05/6j1buemg_dhfl-dewan-housing-finance-reuters_625x300_06_June_19.jpg)

Wadhawans were taken into custody on July 19 of the previous year.

In a recent development, the Central Bureau of Investigation (CBI) has expressed its disagreement to the conditional release provided to ex-DHFL bosses Kapil and Dheeraj Wadhawan in a severe bank loan fraud. The Supreme Court heard the argument on Tuesday.

The CBI counsel, Additional Solicitor General (ASG) S V Raju, shared with the bench, including Justices Bela M Trivedi and Satish Chandra Sharma, that charge sheet was presented well within the legally mandated 90 days, despite this, bail was granted to the accused.

According to our criminal law, if a charge sheet is not filed within 60 or 90 days after initiating the investigation, the accused can be granted statutory bail.

In this particular case, the CBI submitted its charge sheet only on the 88th day post FIR registration. The trial court then released the accused on bail. The order was later sustained by the Delhi High Court.

The CBI counsel went on to share that the inquiry, focusing on other areas and other suspects, is still underway. This led to the courts interpreting the charge sheet as non-completive and based on that, the accused were granted default bail.

The court set next hearing of the request made by CBI on January 9 of following year

Earlier in the year, on May 30, the Delhi High Court sustained the bail given to the DHFL’s bosses in a severe bank loan fraud. The higher court did not find any merit in the appeal made by the CBI that was against the bail granted by the District court in the preceding year.

The Wadhawan brothers were arrested in connection with this case on July 19 last year. Despite the chargesheet being filed on October 15, 2022, the Court decided it should not interfere with the bail at this stage.

The complaint was originally lodged by the Union Bank of India. It blamed DHFL and its then high officials Kapil Wadhawan and Dheeraj Wadhawan of a criminal collusion. The allegations involve a wrongful loss of Rs 34,615 crore to the consortium banks based on the dues outstanding as of July 31, 2020.

This news piece is published without any edits made by NDTV (other than in the headline) from a syndicated news source.

Frequently Asked Questions

What is the context of the dispute against the Wadhawan brothers?

The Wadhawan brothers, former promoters of DHFL, are accused of a major bank loan fraud. The complaint was filed by the Union Bank of India, alleging them of a criminal collusion and a wrongful loss of Rs 34,615 crore to consortium banks.

What is the CBI’s position in this case?

The Central Bureau of Investigation (CBI) is appealing against the bail granted to the Wadhawan brothers. According to the CBI, the chargesheet was submitted within the legally bound 90 days, yet the trial court granted the accused a default bail.

What is the current stage of the case?

The case is currently pending in the Supreme Court, with the next hearing set on January 9 of the following year. Earlier, the Delhi High Court sustained the bail granted to the Wadhawan brothers, despite the CBI’s appeal against it.