Court May Pardon Accused in Multi-Crore Bank Scam

A Delhi court is scheduled to consider pardoning five accused in the Dewan Housing Finance bank loan scam on January 13. The accused are seeking to become prosecution witnesses. The CBI alleges a conspiracy involving DHFL and its former promoters to defraud a consortium of banks.

A pivotal hearing awaits in a Delhi court on January 13 as five individuals implicated in the Dewan Housing Finance Ltd (DHFL) multi-crore bank loan scam seek a pardon. The accused, including Vivek Jayesh Thar and Malav Mehta, aim to turn witnesses against former promoter Kapil Wadhawan.

Special Judge Ashwani Kumar Sarpal, overseeing proceedings, has ordered the accused to produce further documentation to substantiate their claims. The prosecution's lack of objection won't automatically grant their requests, as clarified by the judge. Statements made in support will remain limited to the current plea, pending further inquiry if pardons are granted.

The bank fraud, as presented by the Central Bureau of Investigation (CBI), stems from a conspiracy led by DHFL's leadership to mislead a 17-bank consortium, resulting in a Rs 34,615 crore loss. This case, initiated by a Union Bank of India complaint, has led to charges against over 70 accused individuals.

(With inputs from agencies.)