E-Paper
DHFL promoter Kapil Wadhawan granted bail in money laundering case
Wadhawan had moved for bail earlier this month on the ground that he had no connection with the transaction of Mirchi’s properties.
The special PMLA court on Friday granted bail to Dewan Housing Finance Corporation (DHFL) promoter Kapil Wadhawan, 46. He was arrested on January 27 in connection with the money-laundering probe against late gangster Iqbal Mirchi.
Wadhawan had moved for bail earlier this month on the ground that he had no connection with the transaction of Mirchi’s properties.
Defence lawyer Amit Desai had also questioned his arrest on the ground that the transaction of DHFL which the Enforcement Directorate has cited for Wadhawan’s arrest had nothing to do with the case of money laundering by Mirchi. They contended that it could be a different case.
The defence also pleaded that the key accused who were directly involved in buying the properties that is - Dheeraj Wadhawan and promoters of Sunblink Real Estate Pvt Ltd., have been granted bail.
The bail was opposed by the ED on several grounds including that Kapil Wadhawan may influence the probe. The court has after considering all aspects granted bail to Wadhawan on Friday.
The ED accused Wadhawan of playing a “very crucial role” in “nefarious transactions by way of money laundering”.
The ED has claimed that DHFL created five shell companies, which eventually got amalgamated with Sunblink. According to the ED, “the conduit of M/s Sunblink was deliberately created by Kapil Wadhawan as CMD of DHFL and others just to confuse the trail of money for purchase of properties from the Mirchis. M/s Sunblink is controlled by the Wadhawans.”
