Mumbai court rejects interim bail plea of Wadhwan brothers

The interim bail plea of DHFL promoter Kapil Wadhwan and his brother Dheeraj Wadhwan was rejected by Mumbai court.

Mumbai: Mumbai court on Tuesday rejected the interim bail plea of DHFL promoter Kapil Wadhwan and his brother Dheeraj Wadhwan. Kapil and Dheeraj Wadhwan are in the custody of the Central Bureau of Investigation (CBI) till May 4.

The duo was arrested on Sunday afternoon from their bungalow at Mahabaleshwar in Satara for their alleged involvement in the Yes Bank fraud case. Lawyers of Wadhwan brothers today sought an extension on the interim order till May 4, but it was opposed by the Enforcement Directorate lawyer.

Rejection of interim bail has cleared the way for the Enforcement Directorate to take Wadhwan brothers in custody on May 4 when their CBI custody ends.

Kapil Wadhawan, the 46-year-old Chairman and Managing Director of Dewan Housing Finance Limited (DHFL), was arrested on January 27 this year by the ED for his dubious dealings with gangster Iqbal Mirchi, who died in 2013, and was booked under provisions of Prevention of Money Laundering Act (PMLA).

He was granted bail on February 21 by a special PMLA court in Mumbai.