**Supreme Court Revokes Bail of DHFL Promoter Dheeraj Wadhawan in Loan Scam**
The Supreme Court has annulled the bail previously granted to Dheeraj Wadhawan, the former promoter of Dewan Housing Finance Limited (DHFL), in a high-profile loan scam case involving billions. This decision came after the court reviewed a medical board report that contradicted the initial medical grounds for his release, which had been approved by the Delhi High Court on September 9, 2024.
Wadhawan, who was deemed a ‘sick person’ by the Delhi High Court, is now required to surrender within two weeks. The Supreme Court has assured that he will receive necessary medical care while in custody. Alongside his brother Kapil, Wadhawan was arrested in connection with a massive financial fraud that allegedly defrauded a consortium of 17 banks to the tune of Rs 34,000 crore, making it one of India’s largest bank loan scams.
The Wadhawan brothers face serious charges, including criminal conspiracy, misappropriation of public funds, and breach of trust. They are accused of manipulating financial records and diverting funds through circular transactions to enrich themselves. The scrutiny of DHFL began in January 2019 following media reports about fund diversions, prompting a consortium of banks to commission KPMG for an audit. This audit revealed that Rs 29,100 crore was disbursed to 66 entities linked to DHFL promoters, with a significant portion of these funds funneled into real estate investments.
After their arrest in 2022, Dheeraj Wadhawan was presented before a special court in Mumbai, leading to his judicial custody. The Central Bureau of Investigation (CBI) has filed charges against him and his brother, citing extensive financial irregularities and fund diversions within DHFL, which have resulted in ongoing judicial proceedings.
In conclusion, the Supreme Court’s decision to revoke Wadhawan’s bail underscores the seriousness of the allegations against him and the ongoing efforts to address financial fraud in India.
**FAQ**
*What are the charges against Dheeraj Wadhawan?*
Dheeraj Wadhawan faces charges of criminal conspiracy, misappropriation of public funds, and breach of trust, linked to a significant loan scam involving multiple banks.
