scorecardresearch
PMC bank fraud case: Bombay high court rejects Rakesh Wadhawan's bail plea

PMC bank fraud case: Bombay high court rejects Rakesh Wadhawan's bail plea

The Public Prosecutor opposed the request to shift Wadhawan from KEM hospital to a private hospital.

Rakesh Wadhawan's bail plea rejected Rakesh Wadhawan's bail plea rejected

The Bombay High Court on Thursday refused to grant bail to Rakesh Wadhawan, promoter, Housing Development Infrastructure Limited (HDIL), arrested in the Punjab and Maharashtra Cooperative Bank Ltd. multi-crore fraud case. Wadhawan was seeking bail on medical grounds.
 
He is currently admitted at KEM hospital and requested a transfer to a private hospital, due to lack of cardiac care facility. A report submitted by the Public Prosecutor earlier said that Wadhawan requires pacemaker implantation.
 
Senior advocate Aabad Ponda had submitted a report to the high court that a consultant cardiologist had suggested Wadhawan to get permanent pacemaker implantation which would be helpful for his recovery.
 
The Public Prosecutor opposed the request stating that another civic hospital JJ Hospital has the facility, and the accused can be shifted if necessary. KEM hospital will also set up a cardiac care facility in a week, the public prosecutor added.
 
Justice Nitin Sambre heard the arguments from both sides and was informed that KEM hospital conducted Wadhawan's operation as a medical urgency had arisen. And after hearing both the arguments, the court rejected the plea.
 
Wadhawan was accused of money laundering in the multi-crore Punjab and Maharashtra Co-operative (PMC) Bank fraud case. As a result of which he is facing prosecution by both the Enforcement Directorate (ED) and the Economic Offences Wing of the Mumbai Police in the case.