A Justice of the Peace courtroom on Friday rejected the bail pleas filed on advantage by Kapil Wadhawan and Dheeraj Wadhawan, promoters of Dewan Housing Finance Limited (DHFL), within the Yes Bank fraud case.
The Central Bureau of Investigation (CBI) in its FIR had claimed that Yes Bank had invested ₹3,700 crore in short-term debentures of DHFL between April and June 2018 for which the Wadhawans allegedly gave a kickback of ₹600 crore to financial institution’s former CEO and managing director Rana Kapoor within the kind of loans to DoIT Urban Ventures (India) Pvt. Ltd., an organization registered within the title of Mr. Kapoor’s daughters.
The CBI had obtained a non-bailable warrant in opposition to the duo on March 17, 2020, however they weren’t arrested. On April 9, the Wadhawans, who have been out on bail, together with a bunch of 23 folks flouted lockdown guidelines and travelled to Mahabaleshwar from Khandala after a senior IPS officer within the Maharashtra Home Department issued a letter permitting them to journey. Following an uproar, the Wadhawan brothers on April 18 had bought interim aid from arrest after their lawyer pleaded that the 2 shouldn’t be arrested within the center of the pandemic.
Seeking bail, their advocate had argued that your entire case was based mostly on banking transactions and cash path, paperwork of which have been out there to the company.
On April 11, 2020, the Bombay High Court had rejected their default bail pleas. Justice S.V. Kotwal had stated, “The real victims were the depositors and shareholders; particularly of Yes Bank. That amount was not utilised for getting profits for Yes Bank, but it was used for personal gains of the accused. Thus, clearly offence under Section 409 (criminal breach of trust by public servant, or by banker, merchant or agent) of the Indian Penal Code is made out. The ingredients of this offence are clearly borne out in the report filed before the special CBI court.”