Case Law Details
Central Bureau of Investigtation Vs Kapil Wadhawan (Delhi High Court)
Delhi High Court held that if the investigation is not completed then merely because the report has been filed, the right of statutory bail cannot be defeated. Merely filing of chargesheet, whether incomplete or piecemeal, cannot defeat the basic purpose of section 167(2) of Cr. P.C.
Facts- This is a petition u/s 482 r/w 439 (2) Cr. P.C. moved on behalf of petitioner CBI seeking quashing and/ or cancellation of order passed by Spl. Judge, whereby the respondents have been granted default bail u/s. 167 (2) Cr. P.C.
M/s Dewan Housing Finance Corporation Ltd. (DHFL), Kapil Wadhawan, the then Chairman & MD of DHFL, Dheeraj Wadhawan, Director of DHFL, Shri Sudhakar Shetty, M/s Amaryllis Realtors LLP (ARLLP) and other unknown persons including public servants, entered a criminal conspiracy thereby cheating and inducing a consortium of 17 banks led by Union Bank of India (UBI) to sanction huge loans aggregating to Rs. 42,000 Crores approx. The respondents accused siphoned off, and misappropriated a significant portion of the said funds by falsifying the books of account of DHFL and deliberately and dishonestly defaulted on repayment of the legitimate dues, thereby causing a wrongful loss of Rs. 34,000 Crores approx. to the consortium lenders during the periods January 2010 to December 2019.
Basis the said allegations, the petitioner FIR was registered by the petitioner CBI. Subsequently, chargesheet u/s. 173 Cr.P.C. was filed before the Special Judge (CBI), New Delhi on 15.10.2022 against eighteen individuals including Respondents and fifty-seven companies/entities for the commission of offences punishable u/s. 120B r/w 206, 409, 411, 420, 424, 465, 468 & 477A of Indian Penal Code (IPC), 1860 and u/s. 13(2) r/w 13(1)(d) of the Prevention of Corruption Act, 1988 and substantive offences thereof.
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