SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 14 May, 2022  

DHFL Thmb Ex-DHFL promoters Wadhawan brothers get bail in multi-crore scam

DHFL
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
SME Times News Bureau | 14 May, 2022
A court here has granted bail to former promoters of Dewan Housing Finance Corporation Ltd (DHFL)-- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan -- in a multi-crore scam case.

Granting the bail after the hearing on Friday, Additional Sessions Judge Reetesh Singh said: "In the present case as well, the applicant/accused persons- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan were not arrested during the investigation. A supplementary charge sheet was filed against them without arrest. Investigation Officer (IO) in his reply to the bail applications has stated that there is no requirement of custody".

As per the FIR, Wadhawans were charged under sections 420, (Cheating and dishonestly inducing delivery of property) 406 (Punishment for criminal breach of trust) 409 (Criminal breach of trust by public servant, or by banker, merchant or agent), 120-B (criminal conspiracy to commit an offence) of the Indian Penal Code (IPC), in connection with an agreement of selling flats under a project "Shubhkamna - Advert Techomes" at Noida.

Petitioners' counsel submitted that their clients are currently lodged in Mumbai Jail in another FIR related to Punjab and Maharashtra Co-operative Bank (PMC) fraud case and argued there is no question of them fleeing or tampering with the evidence. On the other hand, the prosecution argued that DHFL allowed Shubhkamna Builtech Private Ltd. to divert public money and loan amounts sanctioned by DHFL to individual home buyers were routed back to DHFL through an escrow account causing wrongful gain to DHFL and wrongful loss to the home buyers.

Last year, the Central Bureau of Investigation (CBI) registered a case against the Wadhawan brothers, who were charged with multiple financial anomalies, in connection with a scam linked to the Pradhan Mantri Awas Yojana (PMAY).

According to the central probe agency FIR, the Wadhawan brothers had created fake home loan accounts amounting to over Rs 14,000 crore and availed Rs 1,880 crore in interest subsidy from the Central government.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter