Mumbai: Chief managing director (CMD) of Dewan Housing Finance Limited (DHFL) Kapil Wadhawan has filed a bail application before the special court designated to try money-laundering cases. Apart from this, Wadhawan also moved the Bombay High Court on an urgent basis, seeking bail. However, the HC refused to grant any relief and said that it would hear the matter on February 11.
The 46-year-old has been in the custody of the Enforcement Directorate since Monday when the agency arrested him for his alleged role in the money-laundering case pertaining to the sale of the late gangster and druglord Iqbal Mirchi’s properties.
He was not produced before the special court for Prevention of Money Laundering Act on Friday after the custody of the Enforcement Directorate (ED) ended. The central agency didn’t press for his further remand, informing the court that he had been hospitalised for swine flu since Thursday night. He is expected to be discharged from the state-run JJ hospital on Monday.
Special judge Prashant Rajvaidya sent Wadhawan to judicial custody till February 3 or till he is discharged from the hospital, whichever is earlier. Wadhawan’s bail plea will be heard on Monday.
During the hearing, Wadhawan’s lawyer Amit Desai told the court that his client was being tested for suspected swine flu. Desai requested the court that Wadhawan should not be shifted from the ICU so as to avoid spread of the disease.
He was arrested by the ED on Monday and taken in custody for his alleged role as an ‘active conspirator’ in the Iqbal Mirchi case, where properties owned by the late Mirchi in the city, believed to be proceeds of crime, were sold to a firm linked with Dheeraj Wadhawan, Kapil’s brother.
The ED has alleged that the brothers were beneficiaries of a loan given by DHFL to five shell companies, amounting to Rs 2,186 crore. Kapil, it has said, used and controlled the firms to layer the origin of the monies.
The agency’s lawyer Hiten Venegaonkar opposed the plea and sought time to file an affidavit in reply. Justice A M Bader then adjourned the matter to Monday.
