The 2 had been arrested by the Financial Offences Wing (EOW)of the police on October 7 (File)
Chennai:
A metropolis courtroom on Monday granted conditional bail to Mumbai-based Wadhawan brothers of DHFL, arrested by the police for allegedly defrauding depositors of crores of rupees.
S Sathi Kumar, Decide, Particular Court docket constituted below the Tamil Nadu Safety of Curiosity of Depositors (TNPID) Act, granted the reduction to DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, whereas passing orders on their purposes looking for bail.
In keeping with the prosecution, an FIR was registered following a path from the Madras Excessive Court docket earlier towards Dewan Housing Finance Company Restricted and others on the cost of defrauding buyers, allegedly by floating bogus schemes and failing to return about Rs 218 crore to depositors.
The 2 had been arrested by the Financial Offences Wing (EOW)of the police on October 7.
The decide granted the bail topic to the situations that the duo shall deposit Rs 50 lakh every with the courtroom and execute a private bond for the same sum for each with two sureties every.
One of many sureties shall be a blood relative of the petitioners.
On launch on bail, they shall report earlier than the Deputy Superintendent of Police, EOW Chennai each day till additional orders.
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