Supreme Court Revokes Bail for DHFL's Dheeraj Wadhawan in Bank Loan Scam

The Supreme Court revoked bail for Dheeraj Wadhawan, former DHFL promoter, in a bank loan scam case after reviewing a medical report, directing him to surrender within two weeks. An appeal by CBI contested Delhi High Court's decision granting bail on medical grounds, arguing Wadhawan had no serious illness.

In a significant development, the Supreme Court on Tuesday revoked the bail granted to former DHFL promoter Dheeraj Wadhawan in a high-profile bank loan scam case. The order came after a bench comprising Justices Sanjay Kumar and Satish Chandra Sharma examined a medical board's report. These findings prompted the judiciary to direct Wadhawan to surrender within two weeks.

Previously, the Delhi High Court had granted bail to Wadhawan on September 9, 2024, based on his alleged medical condition. However, the Central Bureau of Investigation (CBI) challenged this decision, alleging that Wadhawan suffers from no significant medical issues. The agency contended that the massive sums of money were unlawfully diverted and misappropriated under his watch.

The Wadhawan brothers, Kapil and Dheeraj, were initially apprehended in July 2022 as part of investigations into the financial misconduct at DHFL. According to the CBI, the duo, along with others, was involved in a criminal conspiracy to defraud a consortium of banks led by the Union Bank of India, obtaining loans amounting to Rs 42,871.42 crore. Investigations reveal that a substantial portion of these funds was siphoned off through falsified records and failure to repay the loans.

(With inputs from agencies.)