Synopsis: The Enforcement Directorate has approached the Supreme Court against a recent Bombay High Court (HC) order granting bail to Dewan Housing Finance Limited (DHFL) promoter Kapil Wadhawan and his brother Dheeraj Wadhawan, accused of money laundering in the multi-crore Yes Bank fraud case.
The Enforcement Directorate (ED) has filed an appeal against the Bombay High Court order granting bail to the Wadhawan brothers in the multi-crore Yes Bank Scam case before the Supreme Court. The ED submitted, however, that it had filed part of the charge sheet by email a day.
On 20 August, the Bombay High Court granted bail in the Yes Bank case to the businessmen Kapil Wadhawan & Dheeraj Wadhawan as the Enforcement Directorate ( ED) failed to file a chargesheet within 60 days.
The bench headed by Justice Bharati Dangre granted bail and deposit of their passports to the Wadhwan brothers on a condition of Rs 1 lakh securities. They will, however, stay in jail as CBI has already booked them in the case.
The brothers were arrested by the ED on May 14 and initiated proceedings in the case after the CBI registered an FIR on March 7 in connection with alleged suspicious loans granted by Yes Bank and the ‘quid pro quo’ between Rana Kapoor and the Wadhawans.
The Wadhawans were arrested by the CBI from Mahabaleshwar in Maharashtra on 26 April, before the ED also arrested them in May.
On July 9, the ED attached properties worth Rs 2,203 crore comprising 344 bank accounts, savings, and high-end vehicles belonging to Kapoor and his family, the Wadhawans, and others under the PMLA in India , New York and Australia.
The HC, while granting bail to the Wadhawans, cited an order of July 29 in a cheating case heard by Justice PD Naik, who held that the 60-day period provided for under Section 167(2) of the Criminal Procedure Code (CrPC) had to be determined f rom the very first date of the remand order and not the next.
Additional Solicitor General Anil Singh, appearing for ED, had sought the court to stay its order for two weeks so that the agency could appeal in the Supreme Court.