As many as seven cops have been arrested for providing special treatment to DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan, who were arrested in a multi-crore bank loan scam.
A TV channel recently showed clips of the Wadhawan brothers enjoying various privileges in the guise of medical check-ups at government hospitals in Mumbai, while being in judicial custody.
The Wadhawan brothers are currently lodged at the Taloja prison in neighbouring Navi Mumbai.
In a video, Navi Mumbai Police personnel escorted the Wadhawan brothers to hospitals from the Taloja prison.
During the review, senior police officers found there was negligence by the police personnel who escorted the Wadhawan brothers.
Thereafter, the Deputy Commissioner of Police (Headquarters) issued the suspension orders on Tuesday evening.
Both brothers are facing various cases of alleged cheating and fraud. Kapil Wadhawan was the Chairman and MD of DHFL, while Dheeraj Wadhawan is the brother of Kapil and was a non-executive director in the company. Both of them were on the board of DHFL.
Last month, a special CBI Court denied medical bail to Dheeraj Wadhawan, promoter of the now non-existent Dewan Housing Finance Ltd (DHFL), arrested in a case pertaining to alleged fraud at Yes Bank.
The court, however, allowed him to undergo treatment at a private hospital for a heart-related ailment.
On 31 July, capital markets regulator Sebi slapped fines totalling ₹20 lakh on Wadhawan brothers for flouting disclosure norms.
In its 45-page order, Sebi’s Adjudicating Officer Prasanta Mahapatra said, “I find that complete and adequate information was not disclosed to the shareholders of the company as observed from the postal ballot notice and draft share purchase agreement (SPA), which was the responsibility of the noticee (Kapil Wadhawan and Dheeraj Wadhawan)”.
The postal ballot notice was deficient regarding the terms of the option agreement, such as cost or fee charged for the options, how compulsorily convertible debentures (CCDs) would be transferred to DHFL, impact on shareholders of DHFL if options were to be exercised by Wadhawan Global Capital (WGC), the order said.
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Updated: 30 Aug 2023, 01:27 PM IST
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