SC Cancels Dheeraj Wadhawan’s Bail in ₹34,000 Crore DHFL Loan Scam, Orders Surrender in Two Weeks.
The Supreme Court on Tuesday cancelled the bail granted to former DHFL promoter Dheeraj Wadhawan in the ₹34,000 crore loan fraud case, directing him to surrender within two weeks. The bail had earlier been granted by the Delhi High Court on medical grounds.
In September 2024, the High Court had ruled that Wadhawan qualified as a “sick person” and allowed his release. However, a recent medical board assessment submitted to the Supreme Court contradicted that finding, prompting the court to reverse the decision.
The bench assured that adequate medical care would be provided to Wadhawan in jail.
Dheeraj and his brother Kapil Wadhawan are key accused in one of India’s biggest banking scams, allegedly defrauding a consortium of 17 banks of ₹34,000 crore. The charges include criminal conspiracy, misappropriation of public funds, and breach of trust.
The fraud came to light in early 2019 following media reports of financial irregularities at DHFL. A forensic audit by KPMG later revealed that ₹29,100 crore had been disbursed as loans to 66 entities linked to the Wadhawan family, with much of the money diverted into real estate and other personal assets through circular transactions.
Dheeraj Wadhawan was arrested in 2022 and placed in judicial custody after the CBI filed charges detailing large-scale fund diversion within the company. The agency has continued to pursue the case as part of its crackdown on corporate financial fraud.
The Supreme Court’s order signals a renewed push for accountability in the high-profile case as it moves toward trial.
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