The Supreme Court on Tuesday cancelled the bail granted to former DHFL promoter Dheeraj Wadhawan in the ₹42,871 crore bank loan fraud case, directing him to surrender within two weeks.
A bench comprising Justices Sanjay Kumar and Satish Chandra Sharma passed the order after reviewing a medical board report that contradicted earlier claims regarding Wadhawan’s health. The Court was hearing an appeal filed by the Central Bureau of Investigation (CBI) challenging the Delhi High Court’s September 9, 2024 order, which had granted Wadhawan bail on medical grounds, terming him a “sick person.”
Appearing for the CBI, Additional Solicitor General S.V. Raju argued that Wadhawan suffered from no serious ailments warranting bail and highlighted the magnitude of financial irregularities in the case.
Wadhawan, along with his brother Kapil Wadhawan, was arrested in July 2022 in connection with the alleged scam involving Dewan Housing Finance Corporation Ltd. (DHFL). The CBI had registered a case following a complaint by the Union Bank of India, which led a consortium of 17 banks.
According to the agency, the Wadhawan brothers and others engaged in a criminal conspiracy to defraud the banks by securing massive loans through fraudulent means. The total loan amount sanctioned to DHFL stood at ₹42,871.42 crore, a significant portion of which was allegedly siphoned off through falsified accounts and willful defaults.
The CBI filed its chargesheet in October 2022, which was subsequently taken on record by the trial court.
