On Wednesday, the Bombay High Court rejected the bail pleas filed by the promoters of Dewan Housing Finance Ltd. (DHFL), Kapil and Dheeraj Wadhawan in the Yes Bank fraud case. On October 23, a single bench presided by Justice S V Kotwal had reserved his order on the bail pleas filed by Wadhawan brothers.
The promoters of DHFL had approached the high court seeking for default bail, claiming that the prosecuting agency in the case, Central Bureau of Investigation (CBI) had not complied with the procedural requirements under the Code of Criminal Procedure (CrPC) while filing the charge sheet before the special CBI court in the city.
Senior advocate Amit Desai, who appeared for the Wadhawan brothers, has also argued about CBI not compiling with the procedure under Section 173 CrPC while submitting its investigation report before the special CBI court. He said that as per Section 173, a court could take cognisance of the charge sheet only if the probe was complete. The custodial inquiry of the Wadhawans was not required, he added. According to the FIR registered by the CBI, Yes Bank has invested Rs 3,700 crore in short-term debentures of DHFL between April and June 2018 for which the Wadhawans allegedly gave Rs 600 crore kickback in the form of loan registered in the name of the daughters of the former CEO and MD, Yes Bank, Rana Kapoor.