scorecardresearch
Follow Us:
Saturday, August 08, 2020

PMC Bank fraud case: Bail plea of HDIL promoters rejected

Last Friday, Rakesh had tested positive for Covid-19. Initially admitted to JJ hospital, he was later shifted to GT hospital, where prison inmates who test positive are being admitted.

By: Express News Service | Mumbai | Published: July 15, 2020 10:00:23 am
pmc bank collapse, pmc bank workers protest, pmc bank workers salaries, mumbai city news At the Punjab and Maharashtra Cooperative Bank’s Sion branch on Thursday. (Express photo by Ganesh Shirsekar)

A special court on Tuesday rejected the bail application of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, arrested in connection to the PMC Bank fraud case.

The Enforcement Directorate (ED), led by special public prosecutors Hiten Venegaonkar and Sunil Gonsalves, opposed the bail plea stating that it was a major financial fraud with losses worth crores caused to the public. The two brothers are lodged in Arthur Road jail in Mumbai.

Last Friday, Rakesh had tested positive for Covid-19. Initially admitted to JJ hospital, he was later shifted to GT hospital, where prison inmates who test positive are being admitted.

Rakesh had earlier as well applied for interim bail citing that he suffers from multiple medical conditions, but the plea was rejected in May. He had recently moved another plea before the special court seeking that he be shifted to a private hospital, as he suffers from multiple medical conditions. A decision on the plea is likely to be taken on Wednesday by the court.

Meanwhile, a special court also rejected bail applications filed by DHFL promoters Kapil and Dheeraj Wadhawan in the Yes Bank fraud case.

The two had sought default bail stating that the ED had not filed a prosecution complaint against them within 60 days of their arrest as stipulated by law. The ED had submitted that the chargesheet filed last week was within time as per provisions of the law.

📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines

For all the latest Mumbai News, download Indian Express App.

Advertisement
Advertisement
Advertisement
Advertisement