A Mumbai court refuses to grant bail DHFL’s Wadhawans

New Delhi: A metropolitan court in Mumbai has refused to give bail to beleaguered DHFL’s promoters Dheeraj Wadhawan and Kapil Wadhawan in the Yes Bank fraud being investigated by central government agency CBI.

Advocate Pranav Badheka, appearing for the Wadhawans, confirmed that their bail had been rejected.

The Wadhawans argued that no cheating case was done by them as no loss has occurred to anybody. They also said arguments of kickbacks did not any longer stand as the charges against Yes Bank’s Rana Kapoor, the main accused, have been dropped under the Prevention of Corruption Act because of want of sanction.

Wadhawan’s advocate, confirmed that the bail plea of Wadhawans has been rejected by the metropolitan court.