SC seeks CBI reply on bail plea of ex-DHFL promoter Wadhawan

The Supreme Court on Monday sought response from the CBI on a bail plea filed by former DHFL promoter Kapil Wadhawan in an alleged Rs 34,926 crore bank fraud case.

A bench of Justices JK Maheshwari and Vijay Bishnoi issued notice to the agency and sought its response. The Delhi High Court on August 4 denied bail to Wadhawan, noting that his conduct during custody was “not beyond reproach”.

The HC denied the relief, saying such economic offences were not only crimes against specific victims but against the financial system at large.

The CBI alleged Wadhawan, as promoter and CMD of DHFL, was the principal architect of a massive financial fraud involving diversion and misappropriation of approximately Rs 34,926 crore from a consortium of 17 banks.