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Mumbai:
The Bombay High Court on Wednesday rejected bail purposes of Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Limited (DHFL), within the Yes Bank fraud case, holding that procedures had been adopted when a chargesheet was filed.
Justice SV Kotwal rejected the arguments made by the Wadhawan brothers’ attorneys, senior advocates Amit Desai and AM Singhvi, that the CBI did not observe process whereas submitting a chargesheet within the case.
The Wadhawans had sought “default bail”, claiming that the Central Bureau of Investigation (CBI), the prosecuting company, had not complied with the Code of Criminal Procedure (CrPC) whereas submitting a chargesheet in a particular CBI court docket in Mumbai.
A default bail is given when procedural features, corresponding to submitting chargesheet throughout the stipulated interval, are usually not adopted.
Advocate Desai had argued that below CrPC, a court docket can take cognizance of a chargesheet provided that the probe report is full.
In the current case, the CBI probe report was not full and but the court docket had taken cognizance, he stated.
The probe report was not even submitted to the court docket, however was filed within the court docket registry, he contended.
Advocate Singhvi had argued that the CBI added the offence of prison breach of belief below the Indian Penal Code later and never whereas registering the FIR.
This was a “subterfuge”, he argued.
Additional Solicitor General (ASG) Anil Singh, who appeared for the CBI, opposed the bail purposes saying that the CBI had adopted all procedures.
If there have been any deviations from the process, they befell as a result of coronavirus pandemic scenario, throughout which the court docket had taken precautionary measures for dealing with of paperwork, the ASG stated.
Accepting the central company’s arguments, Justice Kotwal held that the probe report “complied with all the requirements of law and hence was a proper report”.
Filing the report within the registry was not unlawful, the decide added.
“Since requisite report under Section 173 of CrPC was filed within time, the right to seek default bail never accrued in favour of the Applicants (Wadhawans),” the excessive court docket stated.
As per the FIR registered within the case by the CBI, Yes Bank invested Rs 3,700 crore in short-term debentures of DHFL between April and June 2018, for which the Wadhawans allegedly gave a kickback of Rs 600 crore to the financial institution’s then CEO and Managing Director Rana Kapoor.
These kickbacks had been within the type of a mortgage to an organization registered within the identify of Rana Kapoor’s daughters, it stated.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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