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Supreme Court Orders Immediate Arrest of DHFL Promoters in Rs 34000 crore Loan Scam Case


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In a significant development related to the DHFL loan scam, the Supreme Court issued an order today for the immediate arrest of former DHFL promoters Kapil Wadhawan and his brother Dheeraj. This decision overturns a previous Delhi High Court order that had granted them statutory bail.

Supreme Court Criticizes Lower Courts’ Decision

The Supreme Court pointed out an “error” made by the lower courts and emphasized that the accused cannot claim statutory bail after the chargesheet in the case has been filed and acknowledged. The court has directed the lower court to reconsider the bail petition.

Statutory Bail and Code of Criminal Procedure (CrPC)

The court clarified that, according to the Code of Criminal Procedure (CrPC), an accused is entitled to statutory bail if the investigative agency fails to file a chargesheet within 60 or 90 days after concluding the investigation. In this case, the CBI filed the chargesheet on the 88th day after registering the FIR, leading to the accused being granted default bail, a decision upheld by the Delhi High Court.

Background of the DHFL Loan Scam Case

The Wadhawan brothers were initially arrested on July 19 last year in connection with the DHFL loan scam case, based on a complaint by the Union Bank of India. The complaint alleges that DHFL, its then CMD Kapil Wadhawan, then Director Dheeraj Wadhawan, and other accused parties conspired to cheat a consortium of 17 banks led by the Union Bank of India. The FIR claims that the accused induced the consortium to approve significant loans, a substantial portion of which was allegedly misappropriated through falsifying DHFL’s books. The complainant asserts that this resulted in a wrongful loss of ₹34,615 crore to the consortium banks.

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