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The Supreme Court granted bail to former Dewan Housing Finance Limited promoters Kapil and Dheeraj Wadhawan in the multi crore bank loan fraud case that began with their arrest in July 2022. The court highlighted that extended pre trial detention without trial infringes personal liberty and reaffirmed that bail is the norm while custody is an exception. Bail comes with conditions, including monthly reporting to police, surrendering passports, and restrictions on travel. The trial continues, and the court warned that violations could lead to bail cancellation.
The Supreme Court has granted bail to former DHFL promoters Kapil and Dheeraj Wadhawan in the high profile multi crore bank loan fraud case. The promoters were arrested in July 2022 following allegations of financial irregularities and misappropriation of loans. The court observed that prolonged pre trial detention without the conclusion of the trial could infringe on personal liberty guaranteed under the Constitution, reiterating the legal principle that bail is the norm and custody is the exception. Advertisement
The bench noted that the pace of the trial suggested it might not conclude for several years. In this context, continuing detention before judgment would amount to effective punishment. The court stressed the need to ensure that the accused cooperate fully with the ongoing investigation and trial while preventing any interference with witnesses or evidence.
The bail order includes several conditions. The Wadhawan brothers are required to provide their contact details and residential addresses to the trial court and local police. They must report monthly to their local police station and appear in person before the trial court on dates specified after charges are framed. Travel outside the country is prohibited without prior permission from the High Court, and their passports must be surrendered within a stipulated timeframe. The court clearly warned that any attempt to threaten or influence witnesses would lead to immediate cancellation of bail.
The allegations against the promoters relate to a complaint filed by Union Bank of India, claiming that DHFL's top management conspired to defraud a consortium of 17 banks through loans worth tens of thousands of crore INR. The Central Bureau of Investigation later filed a chargesheet, and the case has seen multiple legal developments, including earlier bail rejections, cancellations, and appeals before higher courts.
Earlier, the Supreme Court had overturned medical bail granted to Dheeraj Wadhawan and rejected extensions for his surrender. The High Court had also passed mixed rulings on other bail petitions, reflecting the complexity of the proceedings and the significant financial stakes involved. This latest order aims to balance the rights of the accused with the integrity of the judicial process, ensuring that the trial proceeds without unnecessary delays while protecting individual liberties.
Source PTI
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