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Informist, Monday, Aug. 18, 2025

 

NEW DELHI – The Supreme Court Monday refused to extend the time granted to Dewan Housing Finance Corp. Ltd.'s former promoter Dheeraj Wadhawan to surrender in a bank loan fraud case. On Aug. 5, the apex court had cancelled the medical bail given by the Delhi High Court to Wadhawan and asked him to surrender in two weeks.

 

"We are not inclined to extend the time for surrendering as sought by the applicant," said a bench of Justice Sanjay Kumar and Justice Satish Chandra Sharma. "However, as stated that he may require medical attention on a regular basis in the light of the reports submitted by AIIMS Hospital, we direct the CBI (Central Bureau of Investigation) and jail authorities concerned to ensure that the applicant is taken every Saturday morning to the orthopaedic department, AIIMS, New Delhi."

 

Advocate Kapil Sibal, appearing for Wadhawan, had argued that he suffers from serious medical ailments. The reports of doctors have suggested that Wadhawan requires surgical intervention. However, the court remarked, "You (Wadhawan) can go to prison. They (CBI and jail authorities) will take you to hospital whenever required."

 

Wadhawan is an accused in a CBI case relating to a Dewan Housing Finance Corp. bank loan fraud. According to a first information report based on a complaint by Union Bank of India, Wadhawan, his brother Kapil Wadhawan, and others entered into a criminal conspiracy to cheat a consortium of 17 banks. The accused persons induced the consortium, led by Union Bank, to sanction loans amounting to INR 428.71 billion. The consortium eventually suffered a loss of INR 346.15 billion, according to the complaint.

 

Monday, shares of Union Bank of India ended 0.7% higher at INR 135.79 on the National Stock Exchange.  End

 

Reported by Surya Tripathi

Edited by Rajeev Pai

 

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