The Bombay High Court on Thursday rejected realtor Sanjay Chhabria’s petition seeking condonation of delay in filing a revision petition against a special court’s order allowing his arrest in the Yes Bank-DHFL fraud case.
The Central Bureau of Investigation in April last year arrested Chhabria in a case of alleged corruption against Yes Bank founder Rana Kapoor and Dewan Housing Finance Corporation Ltd (DHFL).
Subsequently, the Enforcement Directorate (ED), which is also probing a related case, sought his custody by moving the special court for Prevention of Money Laundering Act (PMLA) cases, which was granted.
Chhabria moved the high court against this order of the PMLA court. He also prayed that the HC condone the delay in filing the plea.
“The delay cannot be and should not be condoned at the sweet will of the person who approaches the court beyond the prescribed time limit,” Justice Prithviraj K Chavan said on Thursday while rejecting the plea.
Special Public Prosecutor Hiten Venegaokar and Ayush Kedia, appearing for ED, said the application for condonation of delay was very vague as it did not provide sufficient cause nor did it state how late the revision application was being filed.
That the applicant was pursuing multiple remedies and therefore there was a delay cannot be termed to be a ‘sufficient cause’, the high court observed.
The CBI registered a case in 2020 against Kapoor and Kapil Wadhawan of DHFL, among others, for alleged corruption. Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, the CBI said.
DHFL diverted the huge sum of money to Radius Group of Sanjay Chhabria, who then disbursed it to Nibodh Realty LLP of Avinash Bhosale, the agency claimed.
