On Thursday, the Bombay High Court 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.
A stipulated 60-day period was given for the Enforcement Directorate (ED) to file its charge sheet against them in the case. After failing to do so within this period, the bail was granted by Justice Bharati Dangre.
The court directed the duo to deposit Rs 1 lakh 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.
On May 14, the brothers were arrested by the ED 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.
The Enforcement Directorate had initiated proceedings in the case after the CBI registered an FIR on March 7, 2020 in connection with alleged suspicious loans granted by Yes Bank and the ‘quid pro quo’ between Rana Kapoor and the Wadhawans.