SC notice to CBI on former Dewan Housing heads' bail pleas in bk fraud case
This story was originally published at 13:18 IST on 27 October 2025
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NEW DELHI – The Supreme Court Monday issued a notice to the Central Bureau of Investigation on bail pleas by Kapil Wadhawan and Dheeraj Wadhawan, former chairmen of the erstwhile Dewan Housing Finance Corp. Ltd., in a bank loan fraud case. The apex court will hear the bail petitions on Nov. 19.
According to the Central Bureau of Investigation's first information report, Kapil 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. The Delhi High Court had rejected bail pleas of Kapil Wadhawan and Dheeraj Wadhawan in August and September, respectively.
At 1306 IST, shares of Union Bank of India were up 1.5% at INR 143.93 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Surya Tripathi
Edited by Avishek Dutta
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