, who was arrested by the Central Bureau of Investigation (CBI) in the multi-crore Yes Bank fraud case){kind=link}
The Supreme Court on Thursday ordered fresh medical assessment of Kapil Wadhawan, former CMD of Dewan Housing Finance Corporation Limited (DHFL), who was arrested by the Central Bureau of Investigation (CBI) in the multi-crore Yes Bank fraud case.
The Apex Court directed a team of doctors from the All India Institute of Medical Sciences (AIIMS), Delhi, to assess the health condition of the accused and submit report within a week.
Earlier on September 30, Special Judge Vishal Gogne at Rouse Avenue Court in the national capital had rejected the statutory bail plea of Kapil Wadhawan and his brother Dheeraj, former Director of DHFL in the case.
CBI had arrested the brothers on July 19, on the basis of.an FIR lodged by the Union Bank of India, which alleged that Kapil Wadhawan, along with Dheeraj and other accused persons, had allegedly entered into a criminal conspiracy to cheat the consortium of 17 banks led by the Union Bank of India (UBI).
In pursuance of the said criminal conspiracy, the accused had induced the consortium banks to sanction huge loans aggregating to Rs 42,871.42 crore. Much of this amount was allegedly siphoned off and misappropriated by alleged falsification of the books of DHFL and dishonest default in repayment of the legitimate dues of the said consortium banks, claimed CBI.
The accused sought statutory bail in the case on the grounds that the national agency had failed to file the charge sheet against them within the mandatory 60-day period from their arrest. Statutory bail, also known as default bail, is a right to bail that accrues when the investigation fails to complete within a specified period in respect to a person in judicial custody.
However, the Judge disposed of the applications, noted that the accused were also charged with Section 409 (criminal breach of trust by public servant, or by banker, merchant or agent), attracting maximum punishment of life imprisonment, thus bringing the period of completion of investigation within the purview of Section 167(2)(a)(i) CrPC, which provided for a maximum period of 90 days for filing of the charge sheet.
Since the period of 90 days was yet to expire in the present investigation, applicants Kapil Wadhawan and Dheeraj Wadhawan were not entitled to statutory bail, noted the Rouse Avenue Court and disposed of their applications.