Yes Bank case: SC dismisses ED's plea against bail to DHFL's Wadhawan brothers
New Delhi, March 27: Supreme Court denied the Enforcement Directorate's appeal against a Bombay High Court decision that granted bail to former Dewan Housing Finance Ltd (DHFL) promoters Kapil Wadhawan and Dheeraj Wadhawan in a Yes Bank money laundering case being investigated by the agency on Monday.
The ED's plea was dismissed by a bench of Justices KM Joseph, Hrishikesh Roy, and BV Nagarathna, which stated that the 60 or 90-day period for the grant of default bail in a criminal case will include the remand period. The bench stated in its judgement that the remand period shall be computed from the date the accused was remanded by the Magistrate.
Also Read: Ruckus in Parliament: Both Houses adjourned few minutes after commencement
In September 2020, the Supreme Court stayed a Bombay High Court ruling granting the promoters bail. The Wadhawan brothers were granted bail by the High Court on August 20, 2020, citing that mandatory default bail is the result of the charge sheet not being filed.
The High Court granted bail since the ED failed to file its charge sheet in the case within the 60-day period. The investigative agency challenged the High Court's decision to the Supreme Court.
Wadhawans are accused of money laundering in the multi-crore Yes Bank fraud case. ED had arrested Kapil Wadhawan and his brother Dheeraj Wadhawan under the provisions of the PMLA. CBI had also lodged FIR against them.
Also Read | Bilkis Bano case: SC issues notice to Centre, Gujarat govt against remission to 11 convicts
- ANI
