SC Seeks ED Response On DHFL Ex-CMD Kapil Wadhawan's Plea, For Bail On Medical Grounds

The Supreme Court on Friday sought response from the Enforcement Directorate on a plea seeking interim bail by former Dewan Housing Finance Ltd (DHFL) CMD Kapil Wadhawan who has been accused of money laundering in the multi-crore Yes Bank fraud case. A bench of Justices K M Joseph and Hrishikesh Roy asked the agency to file its reply within a week.

"Counsel for the respondent seeks time to file a response. Put up for hearing on November 2," the bench said. Senior advocate Mukul Rohatgi, appearing for Wadhawan, told the court that he had five surgeries and sought interim bail on medical grounds. They were arrested by the ED on May 14 under the provisions of the Prevention of Money Laundering Act (PMLA).

The ED had slapped PMLA charges against the two and in this case after studying a CBI FIR filed in March in connection with alleged suspicious loans granted by Yes Bank and the quid pro quo between its co-promoter Rana Kapoor and the Wadhawan brothers -- Kapil and Dheeraj Wadhawan. According to the CBI and ED, Yes Bank invested around Rs 3,700 crore in short term non-convertible debentures of DHFL between April and June 2018.

(PTI)