Dheeraj Wadhawan, previously arrested in connection with the Yes Bank corruption case and later released on bail, faces further legal complications as authorities pursue dues related to alleged financial irregularities. The Central Bureau of Investigation (CBI) has been investigating a case involving Dewan Housing Finance Corporation Limited (DHFL), where a consortium of 17 banks was reportedly defrauded of a staggering ₹34,000 crore, marking one of India’s largest banking loan frauds.
Following these investigations, the Securities Exchange Board of India (SEBI) took action against ex-DHFL promoters Dheeraj and Kapil Wadhawan. In February of this year, SEBI ordered the attachment of their bank accounts, shares, and mutual fund holdings to recover dues amounting to ₹22 lakh. This move by SEBI came after the Wadhawan brothers failed to pay a fine imposed in July of the previous year due to violations of disclosure norms.
The imposed penalty of ₹10 lakh each, along with interest and recovery costs, forms the pending dues from the Wadhawans. Kapil Wadhawan held the positions of Chairman and MD at DHFL, while Dheeraj Wadhawan served as a non-executive director on the company’s board.
In a recent legal development, Dheeraj Wadhawan has filed a plea in the Delhi High Court seeking bail on medical grounds. This plea challenges a trial court’s decision that denied him bail, citing health reasons. Dheeraj Wadhawan is currently receiving medical treatment at his residence in Mumbai after undergoing spinal surgery. The Delhi High Court has issued notice to the CBI regarding this plea and has scheduled a hearing for Friday, May 17th, to further address the matter.