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The Enforcement Directorate (ED) has filed a rejoinder affidavit in the Supreme Court opposing the Bombay High Court’s order granting bail to Kapil Wadhawan and Dheeraj Wadhawan, promoters of Dewan Housing Finance Corporation Ltd, in a case related to money laundering charges linked to YES Bank
The ED has dismissed the Wadhawans’ claims that the complaint was filed late. In the affidavit, the ED said that the complaint was filed well within the time frame stipulated under law. It said that the complaint was filed via email initailly due to the ongoing pandemic-related issues. BusinessLine has seen the rejoinder filed by ED.
The Bombay High Court had granted bail to the Wadhawans, citing delay in the complaint filed by ED. But the Supreme Court had ordered an interim stay.
The Wadhawan brothers were taken into custody as part of ED’s probe into the money laundering of funds worth ₹5,050 crore. The agency has alleged that former YES Bank promoters, Rana Kapoor and his family, gave high-value loans to certain borrowers in lieu of illegal gratification.
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