SC asks HC to decide on former Dewan Housing head Wadhawan's bail in 2 wks
This story was originally published at 19:14 IST on 20 June 2025
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NEW DELHI – The Supreme Court Friday asked the Delhi High Court to decide a bail petition filed by Kapil Wadhawan, former chairman of the erstwhile Dewan Housing Finance Corp. Ltd., in two weeks from the next date of hearing, Jul. 18. Wadhawan, accused in a bank loan fraud case, had moved the apex court saying his bail application was not being disposed of by the high court though he has been in custody since 2022.
According to the Central Bureau of Investigation's first information report, Wadhawan and his brother Dheeraj Wadhawan, along with others, allegedly entered into a criminal conspiracy to cheat a consortium of 17 banks led by Union Bank of India. The Wadhawan brothers and others allegedly siphoned off and misappropriated a significant portion of the funds by falsifying the books of Dewan Housing.
According to the first information report, the accused deliberately and dishonestly defaulted on dues, causing a wrongful loss of about INR 340 billion to the consortium of lenders from January 2010 to December 2019. In January, the apex court had dismissed Kapil Wadhawan's plea seeking interim bail on medical grounds.
Friday, shares of Union Bank of India ended 2.7% higher at INR 143.48 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Rajeev Pai
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