Yes Bank case: Kapil Wadhawan and Dheeraj Wadhawan get bail from High Court

New delhi date. Thursday 20 August 2020

Businessman Kapil Wadhawan and Dheeraj Wadhawan have been granted bail in the Yes Bank loan scam case. The ED has failed to file a chargesheet against him within the stipulated period of 60 days.

Will still be in jail

The two brothers, the promoters of Dewan Housing Finance Corporation, will still be in jail as a CBI case is pending against them. Hearing the case, Justice Bharti Dangre of the Bombay High Court granted bail to the two brothers on the condition of depositing a bond of Rs 1 lakh in cash and a passport.

What is the whole case

Both the brothers were arrested by the ED on May 14 this year in a money laundering case. An FIR was registered by the CBI on March 7 against the Wadhawan brothers. It was alleged that Yes Bank promoter Rana Kapoor and Wadhawan brothers have benefited each other. Yes Bank has given loans to Wadhawan brothers irregularly.

The ED then registered a case on July 15 against the Wadhawan brothers, Rana Kapoor, Kapoor's wife Bindu Kapoor, their daughter Roshni and Rekha and their chartered accountant firm DK Jain & Associates.

The property was attached

In July, the ED attached assets worth Rs 2,400 crore to former bank president Rana Kapoor and DHFL promoter Kapil Wadhawan and Dheeraj Wadhawan. This includes Rana Kapoor's property worth Rs 1,000 crore and Wadhawan brothers' property worth Rs 1,400 crore.

Rana Kapoor's bungalow on Amrita Shergill Road in the posh area of ​​Delhi has also been attached. Apart from this, the ED has also attached some properties located in Pader Road, London and New York in Mumbai. The attached property of Wadhawan brothers includes 12 apartments, land in Pune, property in London, Australia and New York.