DHFL promoter denied bail; court notes his delay in paying Rs 24 lakh for police escort, ET RealEstate

July 17, 2023

MUMBAI: Dheeraj Wadhawan, one of the promoters of DHFL currently in jail in a case pertaining to alleged fraud connected to Yes Bank, was denied medical bail by a special court which observed he had not paid Rs 24 lakh for police escort provided to him during his long hospitalisation.

In his order of July 14, the details of which were made available on Monday, the special CBI judge MG Deshpande noted that the police had to knock the doors of the court to recover this amount.

The judge said the illness for which medical bail has been sought doesn’t require any long hospitalization or interim bail, adding that the gravity and magnitude of the alleged offence committed by the accused cannot be ignored.

In his plea, Wadhwan sought medical bail on the grounds that he has serious heart related medical issues, citing he had suffered a massive heart attack at the age of 38 in January, 2018, which required emergency angioplasty in Switzerland.

The court, however, said medical science was more advanced now and procedures for widening arteries can be successfully done within a short span of time.

It said sometimes patients, after having undergone such procedures, can be discharged on the same day.

“It is also necessary to note that maximum illnesses as per the list of the applicant (Wadhawan) do not require any long hospitalization or interim/permanent bail. It is because the gravity and magnitude of the offence cannot be ignored,” the court said.

It was an offence related to huge crime proceeds usurped by the applicant, his brother and others, which is basically public money and one of the biggest economic offences in the country, the court said.

The court pointed out that despite a heart attack in 2018, which has been capitalized for this application, the applicant and his brother (Kapil Wadhawan) along with family were travelling (to Lonavala) during the COVID-19 pandemic, when they were arrested in 2020.

Further, the special judge said it cannot be ignored that Dheeraj Wadhawan, while enjoying luxurious hospitalization in Kokilaben Dhirubhai Ambani Hospital, had initially undertaken to pay all necessary charges of police party engaged during his hospitalization.

“Yet, he (Dheeraj) did not pay Rs 24,10,069. The additional superintendent of police, Navi Mumbai, was compelled to knock the door of this court for recovery of the same,” the court said.

It is a fact that despite directions given by the court, the applicant did not clear the said huge dues for a long time, and this fact cannot be ignored, the judge added.

The court rejected his medical bail, but allowed the accused to undergo treatment at a private hospital for heart ailments.

Yes Bank founder Rana Kapoor, his family members and businessman Kapil Wadhwan are also accused in the case.

According to the CBI FIR, the scam started taking shape between April and June 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL.

In return, the Wadhawans allegedly “paid kickbacks of Rs 600 crore” to former Yes Bank CEO Rana Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd held by the wife and daughters of Kapoor, the CBI has claimed.

Besides the CBI, the case is also being probed by the Enforcement Directorate.

  • Published On Jul 17, 2023 at 06:00 PM IST

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