Yes Bank Fraud: PMLA court denies bail to DHFL promoters Kapil, Dheeraj WadhawanUpdated: Jul 15, 2020 00:21 IST
A special Prevention of Money Laundering Act (PMLA) court on Tuesday rejected the bail pleas of Kapil Wadhawan and Dheeraj Wadhawan, promoters of Dewan Housing Finance Corporation Ltd (DHFL), charged for their involvement in the Yes Bank fraud case.
The Wadhawans had sought bail claiming the Enforcement Directorate (ED) had failed to file a prosecution complaint or charge sheet within the stipulated period of 60 days. However, the ED, which had arrested the duo on May 14, filed a prosecution complaint on Monday evening. The court then rejected the Wadhawans’ bail plea, but has scheduled a hearing on their plea for bail on merits on Thursday.
ED had initiated proceedings against the Wadhawans based on a first information report (FIR) registered by the Central Bureau of Investigation (CBI) on March 7 in connection with alleged suspicious loans granted by Yes Bank and alleged quid pro quo between Yes Bank founder Rana Kapoor and the Wadhawans. The agency had arrested Kapoor on March 8 for money laundering.
ED in its second charge sheet filed on Monday named Kapil Wadhawan, Dheeraj Wadhawan, and the firms they had floated to allegedly engineer money laundering. The charge sheet also names Rana Kapoor, his wife Bindu Kapoor, daughters Roshni and Rekha, and their chartered accountant firm Dularesh K Jain & Associate.