The Supreme Court on Thursday ordered an interim stay of a Bombay High Court decision to grant bail to Dewan Housing Finance Corporation Ltd promoters Kapil Wadhawan and Dheeraj Wadhawan, accused of money laundering by the Enforcement Directorate in the multi-crore Yes Bank fraud case.
A three-judge Bench led by Justice Sanjay Kishan Kaul issued notice to the Wadhawans on a special leave petition filed by the ED against the August 20 order of the High Court.
Senior advocate Mukul Rohatgi, for the promoters, acknowledged the notice and agreed to file a counter to the appeal in two weeks. The ED would then get a fortnight to file its rejoinder to the counter. The case has been posted for hearing on October 7.
The court noted in its order that the State of Maharshtra has only been added as a formal party in the case.
Despite the grant of bail by the HC, the brothers had continued to remain in jail as they have also been booked by the CBI in the same case.
The HC had granted them bail on default as the ED had not filed its chargesheet within the stipulated 60-day period prescribed in the Code of Criminal Procedure.
Watch | Yes Bank crisis explained
The duo had been arrested by the ED on May 14 on money-laundering charges.
The ED filed its chargesheet on July 15 against the Wadhawans, Yes Bank founder Rana Kapoor and others. The CBI had registered an FIR on March 7, 2020.
Yes Bank, according to the CBI and the ED versions, is alleged to have invested around ₹3,700 crore in short-term non-convertible debentures of the DHFL in 2018.
