Dewan Housing chairman Kapil Wadhawan gets bail in Mirchi case

A special court in Mumbai on Friday granted bail to Kapil Wadhawan, chairman and MD of Dewan Housing Finance (DHFL) arrested in connection with a money laundering case also involving late gangster Iqbal Mirchi. Wadhawan (46) was arrested on January 27 by Enforcement Directorate under Prevention of Money Laundering Act (PMLA). According to ED, Wadhawan was instrumental in laundering of huge amounts of money as part of an illegal deal with Mirchi, who died in 2013 in London. 

ED arrests DHFL promoter Kapil Wadhawan in Mirchi PMLA case

On vember 4, Bombay High Court sort a restraining against Kapil and his bror Dheeraj Wadhawan from leaving country until case is disposed of by Court. Counsel representing Wadhawans had argued that his clients may have to travel abroad to raise funds. However, argument was dismissed by Bombay High Court.  After Kapil Wadhawan, his bror Dheeraj Wadhawan DHFL joined ED probe in Iqbal Mirchi case. On day when ncy carried out searches at DHFL office in Mumbai, Dheeraj Wadhawan got himself admitted to Kokilaben Hospital in Mumbai.

Republic accesses DHFL promoter Kapil Wadhawan's remand copy after his arrest by ED

Republic's sting

Republic TV’s investigation raised questions about DHFL’s role. Investigation revealed that a company called Sunblink Real Estate Private Ltd, which was involved in developing properties in Mumbai for Dawood Ibrahim’s right-hand man Iqbal Mirchi, received loans from an NBFC to tune of Rs.2,186 crores. This has also been ackwledged by ncy. Following Republic TV’s investigation, ED carried out searches at DHFL office in Mumbai. 

Mumbai Police reveals why detained Mumbai man celebrated Dawood Ibrahim's birthday

(With PTI inputs)