A particular CBI court docket on Monday has rejected the bail plea of Chhota Shakeel’s aide, Ajay Ramesh Nawandar, who was arrested by the company in an alleged multicrore Dewan Housing Finance Company Restricted (DHFL) financial institution fraud case.
Dismissing the bail petition, Particular Choose Vishal Gogne dominated out, “Within the current information, the Courtroom is inclined to say no the bail not as a result of the offences are financial in nature however on account of the investigation into the current offences being intricate, the accused prima facie being complicit at some stage of the dealing with/diversion of the humongous funds originating from the loans, a robust probability of him tampering with proof and the foreseeable risk of him influencing witnesses if admitted to bail.”
Earlier in July, the CBI had nabbed businessman, Nawandar from Mumbai after conducting raids at his premises the place it recovered a lot of uber-luxury watches price crores of rupees, together with Rolex Oyster Perpetual, Cartier, Omega and Hublot Michael Kors.
Throughout the investigation, it was discovered that the promoters had allegedly diverted the funds and made investments in numerous entities. It was additionally alleged that the promoters had acquired costly work and sculptures price about Rs 55 Crore (approx.) utilizing the diverted funds, mentioned CBI officers.
The Promoters of DHFL, Kapil Wadhawan and Dheeraj Rajesh Wadhawan, who allegedly defrauded banks to the tune of Rs 34,615 crore, making it the largest such case probed by the company, had been additionally arrested by the CBI.
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