Bombay High Court Grants Bail to Dheeraj Wadhawan, Accused in Yes Bank Case
Bombay High Court's Decision
The Bombay High Court on Thursday, August 29, 2023, granted bail to Dheeraj Wadhawan, one of the accused in the Yes Bank loan fraud case. Wadhawan is a former promoter of Dewan Housing Finance Limited (DHFL).Background of the Case
In July 2022, the Central Bureau of Investigation (CBI) booked Dheeraj Wadhawan along with his brother, Kapil Wadhawan, and other accused in connection with the Yes Bank loan fraud case. The CBI alleged that the Wadhawan brothers defrauded Yes Bank by diverting loan funds for personal gain.
Reasons for Bail Grant
The Bombay High Court granted bail to Dheeraj Wadhawan after considering various factors, including his medical condition and the fact that he has been in custody since his arrest in April 2023. The court imposed several conditions on Wadhawan's release, including surrendering his passport and reporting to the CBI regularly.
Ongoing Investigation
The investigation into the Yes Bank loan fraud case is still ongoing. The CBI is continuing to investigate the involvement of other individuals and entities in the alleged fraud. The case is expected to continue for some time as the CBI gathers evidence and builds a strong case against the accused.
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