Yes Bank Fraud Case: High Court grants Bail to Wadhawan Brothers

On Thursday, the High Court of Bombay granted bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, who have been accused of money laundering by the Enforcement Directorate in the multi-crore Yes Bank fraud case.

Justice Bharati Dangre granted them bail as the Enforcement Directorate failed to file its charge sheet against them in the case within the stipulated sixty-day period. 

The Court ordered the duo to deposit Rs one lakh each as surety & surrender their passports.
However, the brothers will remain in jail as they have also been booked by the Central Bureau of Investigation (CBI) in the same case. 

They had sought bail claiming the Enforcement Directorate failed to file its charge sheet within the stipulated period of sixty days.
The brothers were arrested by the ED on May 14 on money laundering charges.

The ED filed its charge sheet on July 15 against the Wadhawans, Yes Bank founder Rana Kapoor, his wife Bindu Kapoor, daughters Roshni & Rekha, & their chartered accountant firm Dularesh K Jain & Associate.

The Enforcement Directorate had initiated proceedings in the case after the CBI registered an FIR on March 7, 2020, in connection with alleged suspicious loans granted by Yes Bank & the 'quid pro quo' between Rana Kapoor & the Wadhawans.

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