Yes Bank Fraud Case: Bombay HC grants bail to Kapil and Dheeraj Wadhawan

Accused of money laundering in the multi-crore Yes Bank scam, the Bombay High Court, on Thursday, granted bail to Kapil and Dheeraj Wadhawan. Justice Bharati Dangre granted the DHFL promoters bail as the Enforcement Directorate failed to file a charge sheet within the stipulated 60-day period. The court has directed the Wadhawan brothers to deposit Rs 1 lakh and surrender their passports. Wadhawans were arrested on May 14 Despite the bail granted by Bombay HC, the duo will continue to remain in jail as they have been booked by the CBI as well in the same case. Kapil and Dheeraj Wadhawan were arrested by the ED on May 14 on money laundering charges. According to sources, ED has also attached properties of the duo worth Rs 1400 crores. The attached properties include 12 apartments and land in Pune, properties in Australia, New York, and London, as per sources. READ | Yes Bank Case: ED Attaches Properties Of Rana Kapoor, Kapil & Dhiraj Wadhawan Worth Crores Previously, the Supreme Court had also dismissed the anticipatory bail pleas of DHFL promoters Dheeraj Wadhawan and Kapil Wadhawan in the same case. The Yes Bank crisis Yes Bank started facing a crisis as it accumulated many bad loans in 2018 by lending to corporate defaulters such as DHFL, Jet Airways, and Cafe Coffee day, among others. Moreover, when RBI refused to extend the term of founder Rana Kapoor as chief executive in 2018, its management was severely hit with his successor Ravneet Gill managing to raise only one round of funds through a share sale to institutional investors. Currently, the CBI and ED have been investigating several investors who had received loans from Rana Kapoor. Meanwhile, Yes Bank has been restructured by the RBI with SBI as a major stakeholder at 48.21%. READ | Yes Bank Scam: Court Rejects Bail Pleas Of Wadhawan Brothers

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Yes Bank Fraud Case: Bombay HC grants bail to Kapil and Dheeraj Wadhawan

Accused of money laundering in the multi-crore Yes Bank scam, the Bombay High Court, on Thursday, granted bail to Kapil and Dheeraj Wadhawan.

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