PMC Bank fraud: SC declines to entertain Rakesh Wadhawan's bail plea
IANS 03 December 2021
The Supreme Court on Friday declined to entertain a plea by businessman Rakesh Wadhawan, accused of money laundering in the multi-crore rupees Punjab and Maharashtra Co-operative (PMC) Bank fraud case, seeking bail on health grounds.
A bench, headed by Chief Justice N.V. Ramana and comprising Justices Surya Kant and Hima Kohli, asked the petitioner's counsel to seek relief from the concerned high court.
As senior advocate Mukul Rohatgi, representing the petitioner, said the high court had declined to give relief to his client, the bench said: "File after some time. Not now. Alright permitted to withdraw to approach the high court."
Rohatgi referred to the medical condition of the accused and submitted before the bench that his client has been in jail for quite some time. The bench permitted the counsel to withdraw the bail plea with the liberty to approach the high court.
On October 14, the Bombay High Court had refused to grant bail to Wadhawan, who is founder of Housing Development Infrastructure Ltd (HDIL). The Enforcement Directorate arrested him in 2019 in the case.
The high court had noted that denial of medical bail was in no way a breach of his fundamental right to life, and pointed out that he had been provided adequate medical treatment by the state prison authorities, whenever required.
In September 2019, the Reserve Bank of India discovered the fraud that the bank had allegedly created fictitious accounts to hide over Rs 4,355 crore of loans extended to almost-bankrupt HDIL.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
2 months ago
Send the advocates to Somalia or Andaman islands
2 months ago
In our country constitution guarantees equality,but no where equality I'd seen both in governance judiciary or in any quasi judicial organisation.In above case Mr.Wadhwan committed fraud of thousands of crores ,he will use this money in Courts as he knows well that in India our system gives different people parity as per economic i.e the money he can spend and many other factors.
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