E-Paper
IDFC funds diversion case: Jailed businessman Wadhwa found lounging in Chandigarh’s Sector-17 hotel
According to the information, Wadhwa, who is being held at the Model Jail in Sector 52, had complained of infection following which, he was taken to GMCH-16 for treatment
Supposed to be in jail for the alleged diversion of funds to the tune of ₹657-crore from the IDFC First Bank accounts of Haryana government and Chandigarh administration, businessman Vikram Wadhwa was found lounging in a hotel in Sector 17, Chandigarh, on Tuesday.
The accused, along with four others, were arrested from the spot following a raid.
According to the information, Wadhwa, who is being held at the Model Jail in Sector 52, had complained of infection following which, he was taken to Government Multi Specialty Hospital in Sector 16 for treatment. From there, he allegedly lured the police officials accompanying him to allow him to visit Hotel City Hotel, Sector-17/C, owned by his relative. There, he allegedly enjoyed a meal with his two sons and others following which he had planned to escape, police officials said.
The plan was, however, foiled as senior police officials received a tip-off about his activities in the afternoon. Immediately, a police party, headed by deputy superintendent of police (DSP) SPS Sondhi raided the hotel and found Wadhwa with his sons Karan Wadhwa, 27, and Kunal Wadhwa, 24, along with sub-inspector Jagmehar Singh and assistant sub-inspector Surender, both from police lines, Sector 26.
A case under Prevention of Corruption Act and Sections 199 (disobedience by public servant), 261 (negligent escape from custody), 262 (resisting lawful arrest), 62 (attempt to commit crimes) and 61 (2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita was registered against all Wadhwa, his sons and the two police personnel.
Hailing from Malout, Wadhwa had moved to the tricity in the 1990s and started working as a guest house caretaker for a salary of ₹1,500 before building a real estate empire. During the course of the investigation in the funds diversion scam, police found that he had accumulated substantial assets, including residential properties in Sectors 33, 21 and 36 in Chandigarh and a farmhouse in New Chandigarh. A Range Rover was also recovered from a site in Kansal.
