Yes Bank fraud case: Wadhawans get bail
The Bombay high court on Thursday 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. The brothers, however, will remain in jail as they have also been booked by the Central Bureau of Investigation (CBI) in the same case.
Justice Bharati Dangre granted them bail as the Enforcement Directorate (ED) failed to file its charge sheet in the case within the stipulated 60day period. The court noted that there is a period prescribed in law for filing of the charge sheet, and an accused cannot be kept in custody even for a day after that stipulated time and they have the right to default bail.
An accused can seek default bail if the investigating agency fails to file a charge sheet against him or her in the case within the period prescribed under section 167 of the Criminal Procedure Code.
Additional Solicitor General Anil Singh, appearing for ED, sought the court to stay its order for two weeks so that the agency could appeal in the Supreme Court. Justice Dangre, however, refused and said once the right of default bail is due, the accused cannot be kept in custody thereafter even for a day. The court directed the duo to deposit `1 lakh each as surety and surrender their passports.
The brothers had sought bail claiming the ED failed to file its chargesheet within the stipulated period of 60 days. They were arrested by the ED on May 14 on money laundering charges.