A Delhi courtroom has granted bail to Dheeraj Rajesh Wadhawan and Kapil Rajesh Wadhawan, ex-promoters of Dewan Housing Finance Company Ltd (DHFL) within the alleged multi crore rip-off case.
The Further Periods Choose Reetesh Singh whereas granting bail on Friday (Might 13) stated, “within the current case as effectively, the applicant/accused persons- Kapil Rajesh Wadhawan and Dheeraj Rajesh Wadhawan weren’t arrested in the course of the investigation. A supplementary chargesheet was filed in opposition to them with out arrest. Investigation Officer (IO) in his reply to the bail purposes has said that there isn’t any requirement of custody”.
Courtroom famous that the stated case pertains to FIR registered beneath sections 420, 406, 409, 120-B of the Indian Penal Code (IPC), whereby the allegations have been made in opposition to the accused Dheeraj Rajesh Wadhawan and Kapil Rajesh Wadhawan have been the administrators of DHFL throughout that point and had sanctioned mortgage to M/s Shubhkamna Buildtech Pvt. Ltd., and entered right into a tripartite settlement with the flat patrons for the mission “Shubhkamna-Advert Techomes” at Sector 137, Noida, U.P. the place unsold flats have been mortgaged with DHFL they usually hid the factum of the prior cost on flats and misrepresented that these (flats) have been free from encumbrances.
Advocate Vijay Aggarwal showing for Dheeraj Wadhawan and Sr Advocate Rebecca John together with the Advocate Yugant Sharma showing for Kapil Wadhawan argued the Bail Functions.
It was argued (by the Advocates showing for the Wadhawan Brother) that their shoppers have been by no means arrested in the course of the course of the investigation. It was additional argued that the chargesheet initially filed earlier than the Trial courtroom didn’t title their shoppers as ‘Accused’.
It was said by the advocates that their shoppers are at present lodged in Mumbai Jail in one other FIR (Punjab and Maharashtra Co-operative Financial institution (PMC) fraud case) and thus there can’t be any query of fleeing from justice or tampering with any proof.
Senior Public Prosecutor showing for the Financial Offences Wing of the Delhi Police and the Advocate showing for the Complainants opposed the bail purposes and argued that the complainants have been flat patrons within the mission “Shubhkamna – Advert Techomes” at Noida.
It was additional argued by Sr Public Prosecutor, “DHFL allowed M/s Shubhkamna Builtech Non-public Ltd. to divert public cash and mortgage quantity sanctioned by DHFL to particular person dwelling patrons have been routed again to DHFL via an escrow account inflicting wrongful achieve to the DHFL and wrongful loss to the house patrons.”
Along with the aforesaid, the complainant’s counsel additionally took a plea that the Investigating Officer on this case didn’t perform the investigation correctly and the complainant had, due to this fact, moved the Excessive Courtroom praying for change of the IO.
The lawyer additionally submitted that the complainants have additional filed purposes beneath the part 156(3) of the Code of Felony Process (CrPC) learn with part 173 (8) for additional investigation, which is pending earlier than the Trial Courtroom.