Published 15:07 IST, February 21st 2020
Dewan Housing chairman Kapil Wadhawan gets bail in Mirchi case
A special court in Mumbai on Friday granted bail to Kapil Wadhawan, MD of Dewan Housing Finance (DHFL) arrested in connection with a money laundering case
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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 the late gangster Iqbal Mirchi. Wadhawan (46) was arrested on January 27 by the Enforcement Directorate under the Prevention of Money Laundering Act (PMLA). According to the 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.
On November 4, Bombay High Court sort a restraining against Kapil and his brother Dheeraj Wadhawan from leaving the country until the case is disposed of by the Court. The Counsel representing the Wadhawans had argued that his clients may have to travel abroad to raise funds. However, the argument was dismissed by the Bombay High Court. After Kapil Wadhawan, his brother Dheeraj Wadhawan DHFL joined the ED probe in the Iqbal Mirchi case. On the day when the agency carried out searches at the DHFL office in Mumbai, Dheeraj Wadhawan got himself admitted to Kokilaben Hospital in Mumbai.
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 the tune of Rs.2,186 crores. This has also been acknowledged by the agency. Following Republic TV’s investigation, ED carried out searches at the DHFL office in Mumbai.
(With PTI inputs)
15:07 IST, February 21st 2020