Supreme Court cancels DHFL's Dheeraj Wadhawan's bail, orders surrender in 2 weeks
The Wadhawan brothers were charged with engaging in a criminal conspiracy, misappropriation of public funds, and breach of trust. Allegations include manipulating records and diverting funds through circular transactions to generate personal assets.Following media reports about fund diversion in January 2019, DHFL came under scrutiny. A consortium of banks appointed KPMG to conduct an audit, revealing fund diversions disguised as loans to DHFL-linked entities. The audit unveiled that Rs 29,100 crore was disbursed to 66 entities associated with DHFL promoters, with a significant portion of these funds invested in land and properties.After being arrested in 2022, Dheeraj Wadhawan was presented before a special court in Mumbai, leading to his judicial custody. The Central Bureau of Investigation (CBI) had filed charges citing financial irregularities and fund diversions within DHFL, leading to the eventual judicial proceedings against the Wadhawan brothers.- EndsMust Watch
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