Bombay High Court grants bail to the DHFL promoters on Yes Bank scam.

In the case of Yes Bank scam, the Bombay High Court grants a bail on 20 August to the DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, following the inability by the investigation agency to deliver its charges in the required 60-day time frame, in an embarrassment for the Enforcement Directorate (ED).

The Wadhawan brothers were granted a ‘default’ bail, with a condition by Justice Bharati Dangre of depositing Rs 1 lakh along with their passports as a surety.

Although, on 26 April, the wadhawans-who were nabbed by the Central Bureau of Investigation from the Mahabaleshwar hill station and held nearly three weeks later by the ED-won’t be able to leave the jail immediately because the CBI reserves them in the same case separately.

Justice Dangre rejected the additional solicitor general Anil Singh’s request that he should continue for two weeks to grant the bail order, arguing that the established legal position is that an accused can’t stay in jail for even a day once the right to default bail is due.

On the grounds that the ED did not file the petition for the charges within 60 days after the ED arrested them for money-laundering charges on 14 May, the Brothers Wadhawan sought bail from the high court in Mumbai.

The ED registered the charges one day after the deadline i.e on 15 July against the Wadhawan’s brother, Yes Bank founder Rana Kapoor, his wife Bindu Kapoor and their daughters Roshni and Rekha, among other things.