Yes Bank fraud case: Bombay HC grants bail to Wadhwan brothers

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National News

Aug 20, 2020

3:04PM

Yes Bank fraud case: Bombay HC grants bail to Wadhwan brothers

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The Bombay High Court has granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused of money laundering by the Enforcement Directorate in the multi-crore Yes Bank fraud case.

Justice Bharati Dangre granted them bail as the Enforcement Directorate (ED) failed to file its charge sheet against them in the case within the stipulated 60-day period. The court directed the duo to deposit one lakh rupees each as surety and surrender their passports.

The brothers, however, will remain in jail as they have also been booked by the Central Bureau of Investigation (CBI) in the same case. They had sought bail claiming the ED failed to file its charge sheet within the stipulated period of 60 days. The brothers were arrested by the ED on May 14 on money laundering charges.

The ED filed its charge sheet on July 15 against the Wadhawans, Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, daughters Roshni and Rekha, and their chartered accountant firm Dularesh K Jain and Associate.