SC to hear CBI plea against bail to ex-DHFL promoter Dheeraj Wadhawan

The Supreme Court on Friday agreed to hear the CBI's plea challenging the Delhi High Court's order of bail to former DHFL promoter Dheeraj Wadhawan in the multi-crore bank loan scam case.

A bench of Chief Justice Sanjiv Khanna and Justice Sanjay Kumar issued notice to Wadhawan and sought his response on the plea.

The high court on September 9, 2024 granted him bail on medical grounds saying Wadhawan fell within the parameters of a "sick person".

During the arguments in the apex court, additional solicitor general S V Raju, representing the CBI, said Wadhawan suffered from no serious medical ailments and huge amounts of money were siphoned off in the case.

He argued Wadhawan was a man with "money bags" and spent most of the time out in hospital.

Senior advocate Abhishek Singhvi, appearing for Wadhawan, opposed the submissions and referred to his medical reports.

The bench issued notice to Wadhawan and posted the hearing in the week of April 28.

The Wadhawan brothers -- Kapil and Dheeraj-- were arrested in this case in July 2022.

The agency filed a chargesheet in October 2022 following which a court took its cognisance.

The FIR was registered on a complaint made by the Union Bank of India, which alleged DHFL, the housing finance company's then chairman-cum-managing director Kapil Wadhawan, then director Dheeraj Wadhawan and other accused entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India, and in pursuance of the criminal conspiracy, the accused and others induced the consortium to sanction huge loans aggregating Rs 42,871.42 crore.

Much of the amount was allegedly siphoned off and misappropriated by alleged falsification of the books of the DHFL and dishonest default in repayment of legitimate dues of the consortium banks, the CBI claimed.