A special Central Bureau of Investigation (CBI) court considered the Rs. 4 crore that builder Satyan Tandon arrested in the fraud case concerning Yes Bank and Dewan Housing Finance Corporation Ltd. (DHFL) deposited in the bank’s account last Friday while granting him bail the following day.
In a detailed order made available on Monday, the special court considered the deposit of the amount as a ‘mitigating circumstance’ while granting him relief.
Special CBI Judge SU Wadgaonkar said in the order that the court has perused the record and that there is prima facie evidence on record to show that Tandon is a co-conspirator and aided the Wadhawan brothers Kapil and Dheeraj - in availing a loan of Rs. 750 crores from Yes Bank in the name of the firm Belief Realtors using false representation and forged documents.
The court also noted that he further co-conspired with builder Sanjay Chhabria, who availed Rs. 900 crores from DHFL and from it, Rs. 4 crore was diverted to him for his personal benefit.
It, however, noted that he had deposited the amount in the bank’s account with the undertaking that he will not claim a right over the money.
The CBI had opposed his plea and stated that its further probe shows that Tandon was a beneficiary of Rs. 19 crores.
Judge Wadgaonkar said that even if it accepts the contention of the prosecution, he still deposited around 20 per cent of the amount. The CBI had also argued that a mere deposit of the amount does not absolve him of criminal liability or give him the right to seek bail.bombay
