Supreme Court Revisits Bail in Multi-Crore Loan Scam Involving DHFL's Wadhawan

The Supreme Court has issued a notice for Dheeraj Wadhawan, ex-promoter of DHFL, regarding the CBI's plea to revoke his bail in a massive bank loan scam. The hearing is set for April 28. Previously arrested for defrauding a bank consortium, multiple court decisions have contested his bail status.

The Supreme Court on Friday took a significant step in the multi-crore bank loan scam involving Dewan Housing Finance Corporation Ltd (DHFL) by issuing a notice regarding the cancellation of bail for its former promoter, Dheeraj Wadhawan. Acting on a plea by the Central Bureau of Investigation (CBI), the bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar sought Wadhawan's response and scheduled the next hearing for April 28.

The controversy stems from the Delhi High Court's decision in September 2024 to grant Wadhawan bail on medical grounds, sparking further legal battles. The CBI, represented by Additional Solicitor General SV Raju, argued Wadhawan does not suffer from any severe health issues, contrary to claims made by his legal counsel, Senior Advocate Abhishek Manu Singhvi, who cited kidney, spine, and heart problems as grounds for bail.

Dheeraj and Kapil Wadhawan were apprehended in July 2022. Although initially granted statutory bail by a trial court due to an incomplete charge sheet by the CBI, this move was overturned by the Supreme Court in January 2024 when the CBI established the charge within the statutory period. This case originates from serious allegations of conspiracy to defraud a bank consortium led by Union Bank of India, embroiling the Wadhawan brothers in charges of siphoning off and misappropriating massive loan amounts sanctioned to DHFL.