DHFL loan scam: Supreme Court cancels bail for former promoters Kapil and Dheeraj Wadhawan

This development comes in the wake of the Central Bureau of Investigation (CBI) filing a chargesheet in its thorough investigation into the alleged DHFL loan scam.

Under the Code of Criminal Procedure (CrPC), an accused becomes entitled to a grant of statutory bail if the probe agency fails to file the charge sheet on the conclusion of the investigation in a criminal case within 60 or 90 days period.

In this case, however, the CBI filed the charge sheet on the 88th day after registration of the FIR and the trial court granted default bail to the accused and the Delhi High Court upheld the order. The Wadhawan brothers were arrested in this case on July 19 last year. The high court, however, had clarified it did not go into the merits of the case.

The charge sheet was filed on October 15, 2022, and cognisance was taken. The FIR in the case was based on a complaint made by the Union Bank of India.

Separately last year on October 26, the Enforcement Directorate said it had attached assets, including diamond jewellery and flats, worth more than ₹70 crore of Kapil and Dheeraj Wadhawan as part of a money laundering probe linked to an alleged bank loan fraud case.

The probe against the Wadhawans pertains to "cheating" a consortium of 17 banks to the tune of ₹34,615 crore and the money laundering case stems from a Central Bureau of Investigation (CBI) FIR, the agency had then said in a statement.