38.6c New Delhi, India, Wednesday, April 24, 2024

Wadhawan Brothers sent to Judicial Custody after Court Denies Interim Bail Plea

By Priyam Jain      11 May, 2020 04:47 PM      0 Comments
Dheeraj Wadhawan Kapil Wadhawan Wadhawan Brothers

May 10th, 2020: A Special Court appointed in Mumbai rejected the interim bail plea filed by the DHFL promoter Kapil Wadhawan and his brother Dheeraj Wadhawan who were arrested in connection with the Yes Bank Scam and sent to judicial custody. 

The CBI Custody of the brothers ended on May 10th, 2020 and they were presented before the court where they applied for a temporary bail citing health reasons and risks.

The lawyer on behalf of the Wadhawans’ argued that they are most likely and susceptible to contracting coronavirus infection due to their past health issues. Further, he stated that since Arthur Road Jail has reported certain cases of coronavirus a, it would pose a great threat to their health and that it would be in their interest that they get bail.

Contending further, he argued that the “right to health is one of the integral aspects of the right to life. Therefore, they should be granted interim bail.” The court on perusal of the arguments advance, however, denied the said bail application. The Arthur Road Jail has recorded about 77 cases of inmates testing positive for coronavirus in Mumbai. 

50 days after the CBI booked them in the case of alleged bribery also including Yes Bank CEO Rana Kapoor, the Wadhawan brothers were arrested from a quarantine-based facility near Mahabaleshwar. The pair have additionally been accused in the CBI FIR which pertains to alleged swindling of money by Rana Kapoor and others. 

The agency alleged that Kapoor entered into a criminal conspiracy with the two brothers for extending financial assistance to DHFL through Yes Bank and in return gain substantial undue benefits for himself and his family members through the companies held by them. According to reports issued by CBI, the scam had started taking place between April and June 2018 when Yes Bank had invested about Rs. 3,700 crore in short-term debentures of the scam-hit Dewan Housing Finance Corporation Ltd (DHFL).

The Wadhawan brothers in return had paid a whopping amount of 600 crores to Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd which was held by the wife and daughters of Rana Kapoor. Leaving aside the CBI, the brothers are also being probed separately over their connection in the Yes Bank Scam by the Enforcement Directorate. 

Share this article:

Leave a feedback about this

Trending Judiciary
Denying child care leave to working mothers of disabled children violated constitutional mandate: SC

Supreme Court of India rules denying child care leave for mothers of disabled kids violates constitutional rights.

23 April, 2024 11:15 AM
Trending Environment
Ignorance is not bliss: Okhla Waste to Energy Plant needs to be relocated, residents argue

Questions on the suitability of waste-to-energy plants in Delhi are not new, but the 2,000 tonnes per day Waste to Energy (WTE) plant, situated in the middle of the dense residential areas around Sukhdev Vihar, is not just a major environmental worry but an example of how siting rules can be bent to accommodate a heavily polluting enterprise.

23 April, 2024 12:29 PM


Trending Judiciary
PIL filed by Ashwini Kumar Upadhyay in SC for 3-yr Bachelor of Law degree after Class XII

PIL by Ashwini Kumar in SC seeks to shorten law degree to 3 years post-Class XII, citing current 5-year span as irrational.

18 April, 2024 11:21 AM
Trending Executive
Centre sets up high-powered committee to suggest measures to end discrimination against queer community [Read Order]

Centre forms committee to end discrimination against the queer community, chaired by the Cabinet Secretary, following a Supreme Court directive.

18 April, 2024 12:11 PM
Trending Judiciary
After Karnataka HC, Delhi HC sets aside Government circular banning 23 'ferocious' dog breeds [Read Judgement]

After Karnataka High Court, the Delhi High Court has set aside a Government circular banning 23 'ferocious' dog breeds.

18 April, 2024 01:06 PM
Trending Judiciary
For wrong decision of suicide by person of 'frail mentality', who is to be blamed? Delhi HC gives view [Read Judgment]

If a man of 'frail mentality' takes the wrong decision to commit suicide, who is to be blamed? Delhi High Court gives a prima facie opinion in the matter.

18 April, 2024 03:23 PM


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email