Delhi High Court Grants Bail to Dheeraj Wadhawan in Multi-Crore Bank Loan Scam

The Delhi High Court granted bail to ex-DHFL promoter Dheeraj Wadhawan in a high-profile bank loan scam case. Justice Sudhir Kumar Jain noted that Wadhawan qualifies as a 'sick person.' The case involves allegations of a criminal conspiracy leading to the misappropriation of Rs 42,871.42 crore.

The Delhi High Court on Monday granted bail to former DHFL promoter Dheeraj Wadhawan in the multi-crore rupees bank loan scam case.

The order was passed by Justice Sudhir Kumar Jain who said Wadhawan fell within the category of a 'sick person.'

The Wadhawan brothers -- Kapil and Dheeraj-- were arrested in this case on July 19 last year. The charge sheet was filed on October 15, 2022, and cognisance was taken.

The FIR in the case was registered on a complaint made by the Union Bank of India. It alleged that DHFL's then chairman-cum-managing director Kapil Wadhawan, then director Dheeraj Wadhawan, and other accused entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India.

According to the CBI, in pursuance of the criminal conspiracy, the accused and others induced the consortium to sanction huge loans aggregating Rs 42,871.42 crore. Much of this amount was allegedly siphoned off and misappropriated by falsifying DHFL's books and dishonestly defaulting on the legitimate dues of the consortium banks.