Supreme Court Urges Swift Decision on Kapil Wadhawan's Bail Plea in Bank Fraud Case

The Supreme Court on Friday has instructed the Delhi High Court to promptly address the bail plea of Kapil Wadhawan, the former promoter of Dewan Housing Finance Ltd (DHFL), implicated in a substantial bank fraud case currently under investigation by the Central Bureau of Investigation (CBI).

A panel of Justices Ujjal Bhuyan and Manmohan has mandated the High Court to render a decision regarding Wadhawan's bail plea within a two-week timeframe.

Having been held in custody since July 2022, Wadhawan's plea is scheduled for discussion on July 18, highlighting previous delays in addressing his petition. Meanwhile, CBI charges allege that Wadhawan and others induced a consortium to approve loans of Rs 42,871.42 crore, leading to significant financial losses due to fraudulent accounting and defaults.

(With inputs from agencies.)