DHFL case: Delhi HC refuses to interfere in CBI plea challenging Ajay R Nawandar treatment in Mumbai

New Delhi [India], September 6 : The Delhi High Court has found no ground in the Central Bureau of India's (CBI) plea seeking to quash aside of the order of the trial Court which had granted interim bail to Ajay Ramesh Nawandar, arrested in connection with an alleged bank fraud of Rs 34,615 crore by Dewan Housing Finance Corporation Limited (DHFL) on medical ground.
The CBI petition has stated that the trial court in its order directed respondent Ajay Ramesh Nawandar not to leave Delhi but he is getting treatment in Mumbai's Leelavati Hospital. The counsel who appeared for CBI stated that every possible treatment which might be required by him is available in Delhi.
The bench of Justice Sudhir Kumar Jain on Monday noted that the documents submitted by Advocate Hemant Shah, who appeared for Nawandar, reflected that he was getting treatment from Leelavati Hospital, Mumbai.
Accordingly, the respondent is also permitted to go to Mumbai for his medical treatment for three days with prior intimation to the concerned Investigating Officer, Senior Advocate Vikas Pahwa who appeared for Nawandar said.
The Investigating Officer was also directed that during the period of stay of the respondent for his medical treatment in Mumbai, the Investigating Officer shall be at liberty to keep a vigil on the respondent here. There is no ground to interfere in the trial court order dated August 31, said the court.
The Special
Judge Vishal Gogne on August 31 while granting interim bail said, "since the application discloses medical grounds for release which are corroborated by the report from the Medical Officer In-charge of the Jail dispensary, the objections raised by the CBI with reference to the factual matrix, comprising a financial fraud and the alleged recovery of costly paintings (worth about Rs 30 crore) from the accused, are beyond the pale of consideration."
The accused is admitted to interim bail for two weeks subject to furnishing personal bonds and two surety bonds in the sum of Rs Five lakhs each, the trial Court directed.
The details of the hospital where the accused is to seek medical care shall also be immediately informed to the investigation officer (IO). The accused shall surrender his passport to the IO immediately upon release, the court ordered.
Earlier, Advocate Hemant Shah, counsel for Ajay R. Nawandar submitted that multiple reports from the Jail Superintendent reflected a continuous deterioration in the medical condition of the accused who suffers from a host of ailments including uncontrolled diabetes, chronic kidney disease, blood pressure, sleep apnea and similar complications.
Nawandar's lawyer further submitted that his client was arrested in the matter regarding the erstwhile promoters of DHFL siphoned the credit facilities availed from banks and a small fraction of the amount thereof was also spent on purchasing certain paintings.
Out of these paintings, two were recovered from the premise of the applicant (Nawandar) but it did not belong to him.
His lawyer Shah
also stated that the Applicant was never associated with DHFL or its erstwhile promoters and had no connection with them. It is further apt to add that not even a single dime has even come to the Applicant either before the accounts turned Non Performing Assets (NPA) or subsequently.
According to the CBI, during the searches at Nawandar's premises, it has recovered a large number of uber-luxury watches worth crores of rupees, including Rolex Oyster Perpetual, Cartier, Omega and Hublot Michael Kors.
During the investigation, it was found that the promoters had allegedly diverted the funds and made investments in various entities. It was also alleged that the promoters had acquired expensive paintings and sculptures worth approximately Rs 55 Crore using the diverted funds, said CBI officials.
The Promoters of DHFL, Kapil Wadhawan and Dheeraj Rajesh Wadhawan were also recently arrested by the CBI and are currently in Judicial custody.
A case was registered on a complaint from Union Bank of India, Industrial Finance Branch, Mumbai against a private (Borrower) company based in Mumbai, its then CMD, then Director and others including a private person, private companies, unknown public servant(s) and private persons on the allegations that the accused cheated a consortium of 17 banks led by the Union Bank of India to the tune of over Rs 34,615 crore (approx.) by siphoning off loans availed from the banks and falsifying the books of said private (Borrower) company and creating Shell Companies/false entities, which had come to be known as "Bandra Book Entities".
It was alleged that the said private company and its promoters had created a number of shell companies and fictitious entities (the Bandra Book entities) and siphoned off huge funds by disbursing funds to these fictitious entities.
It was further alleged that separate audits conducted by other private audit accounting organisations had identified multiple instances of diversion of funds by the accused for personal benefits and falsification of books of accounts to camouflage and conceal dubious transactions.
The audits also identified several instances where large value loans were provided to such fictitious entities without due diligence and without securities. Instances of sanction and disbursement of loans, merely by e-mail communications were allegedly found for which no loan files were maintained in the said private (Borrower) company.