NEW DELHI: The Supreme Court on Tuesday revoked the bail previously granted to former DHFL promoter Dheeraj Wadhawan in connection with a substantial bank loan scam.
A bench comprising Justices Sanjay Kumar and Satish Chandra Sharma issued the order after reviewing a medical board’s report and instructed Wadhawan to surrender within two weeks.
The Delhi High Court had granted him bail on September 9, 2024, citing medical reasons, stating that Wadhawan fit the definition of a “sick person”.
This ruling followed an appeal by the CBI against the high court’s decision.
Additional Solicitor General S V Raju, representing the agency, previously stated that Wadhawan did not suffer from any serious health issues and pointed out that substantial amounts of money were misappropriated in this case. The Wadhawan brothers, Kapil and Dheeraj, were taken into custody in July 2022.
The investigative agency submitted a chargesheet in October 2022, which was acknowledged by a court.
The FIR was filed following a complaint from the Union Bank of India, alleging that the then chairman and managing director of DHFL, Kapil Wadhawan, along with then director Dheeraj Wadhawan and others, conspired to defraud a group of 17 banks, led by Union Bank of India, facilitating loans totaling Rs 42,871.42 crore.
Much of this sum was allegedly misappropriated through falsified financial records and defaults in repaying legitimate obligations to the consortium banks, as claimed by the CBI.
