In Jail Since 2019, Plead Wadhawans; Court Refuses To Grant Bail, ET RealEstate
MUMBAI: Refusing to grant bail to HDIL promoters Rakesh and Sarang Wadhawan, who sought the relief on the grounds that they had spent more than half the prescribed sentence as undertrials, a special PMLA court on Wednesday said rejection of their earlier bail pleas clearly indicates their deep-rooted involvement in money-laundering. The father-son duo was first arrested in a case relating to Punjab and Maharashtra Co-operative (PMC) Bank in 2019.
“It cannot be ignored that total PoC (proceeds of crime) till date is Rs 6,117.9 crore and process of identification of total PoC is on…All this is…huge public money entrusted in PMC Bank…There is huge loss of this public money…,” special judge M G Deshpande said.
Section 436-A of the Criminal Procedure Code (CrPC) entitles an undertrial to bail if he has been in jail for more than half of the maximum punishment prescribed for the crime.
Rejecting their plea, the judge said, “I am constrained to note that while claiming benefit of Section 436A CrPC both applicants…have suppressed the fact regarding the time consumed by them in prosecuting various applications.” The judge added that as per the explanation of Section 436A, the period of detention passed due to delay in proceeding caused by the accused will have to be excluded. The judge said that from July 14, 2020, until March and May this year, respectively, they filed bail pleas, challenging subsequent orders before the Bombay HC and SC. “Therefore, the period of three years, five months…. respectively has to be excluded while computing the one-and-a-half period contemplated…On this count also neither the applications are maintainable nor qualified…,” the judge said, adding that during this period, the court couldn’t frame charges against them.