The accused were arrested on October 7 and remanded to judicial custody. Meanwhile, the counsel for the accused S Elambharathi and Abdul Saleem moved bail applications.

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Three day police custody of DHFL promoters granted
The accused were arrested on October 7 and remanded to judicial custody. Meanwhile, the counsel for the accused S Elambharathi and Abdul Saleem moved bail applications.

Published: 10th October 2020 04:08 AM | Last Updated: 10th October 2020 04:08 AM | A+A A-
By Express News Service
CHENNAI: A special court for cases under the TN Protection of Interests of Depositors (TNPID) Act granted three-day police custody of DHFL promoters Kapil Wadhawan and Dheeraj Wadhawan till Monday in connection with a Rs 200 crore cheating case.

The court also agreed to hear their bail pleas on Monday. Special judge S Sathi Kumar granted the custody to the Economic Offences Wing (EoW) of the TN police. The EOW moved a plea seeking five-day custody of the duo, however, the court only partly allowed the plea.

According to the prosecution, FIR has been registered against the duo in view of a direction issued by the Madras HC against DHFL and 11 others, for alleged offences of defrauding investor money by floating bogus schemes, and non-repayment of Rs 218 crore of deposits collected.

The accused were arrested on October 7 and remanded to judicial custody. Meanwhile, the counsel for the accused S Elambharathi and Abdul Saleem moved bail applications. They contended that the FIR against the accused for offences under TNPID Act is not maintainable as there are no depositors as required. Recording the submissions, the court agreed to hear the pleas on October 12.

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