{"id":59319,"date":"2020-04-19T17:39:03","date_gmt":"2020-04-19T12:09:03","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=59319"},"modified":"2020-04-19T17:39:03","modified_gmt":"2020-04-19T12:09:03","slug":"court-denies-interim-bail-to-rakesh-wadhawan-in-pmc-bank-scam","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/court-denies-interim-bail-to-rakesh-wadhawan-in-pmc-bank-scam","title":{"rendered":"Court denies interim bail to Rakesh Wadhawan in PMC Bank scam."},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?ssl=1\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"59320\" data-permalink=\"https:\/\/www.legalindia.com\/news\/court-denies-interim-bail-to-rakesh-wadhawan-in-pmc-bank-scam\/hdil-promoter-rakesh-wadhawan\" data-orig-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?fit=300%2C168&amp;ssl=1\" data-orig-size=\"300,168\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"\u00a0HDIL promoter Rakesh Wadhawan\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?fit=300%2C168&amp;ssl=1\" class=\"alignleft size-full wp-image-59320\" src=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?resize=300%2C168&#038;ssl=1\" alt=\"\" width=\"300\" height=\"168\" srcset=\"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?w=300&amp;ssl=1 300w, https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2020\/04\/HDIL-promoter-Rakesh-Wadhawan.jpg?resize=150%2C84&amp;ssl=1 150w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>HDIL promoter Rakesh Wadhawan, currently lodged in jail in connection with the multi-crore rupees Punjab &amp; Maharashtra Cooperative (PMC) Bank scam case, was denied interim bail on Friday by a special court here.<\/p>\n<p>Rakesh Wadhawan, who is in his 60s, had sought bail on health ground citing the coronavirus outbreak. He has been booked under the Prevention of Money-Laundering Act (PMLA).<\/p>\n<p>His plea was rejected by special PMLA judge PP Rajvaidya.<\/p>\n<p>In his application for interim bail, Rakesh Wadhawan had cited his advanced age and existing illnesses, and said he fears contracting the coronavirus infection in jail.<\/p>\n<p>Housing Development and Infrastructure Ltd (HDIL) Rakesh Wadhawan and his son Sarang are accused, besides several others, in the Rs 4,355-crore PMC Bank scam which surfaced in September last year.<\/p>\n<p>The case is being probe by the Enforcement Directorate, along with the Economic Offences Wing of the Mumbai police.<\/p>\n<p>The case stems from massive loans given by PMC Bank to the now bankrupt HDIL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HDIL promoter Rakesh Wadhawan, currently lodged in jail in connection with the multi-crore rupees Punjab &amp; Maharashtra Cooperative (PMC) Bank scam case, was denied interim bail on Friday by a special court here. Rakesh Wadhawan, who is in his 60s, had sought bail on health ground citing the coronavirus outbreak. He has been booked under [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[46734,46731,46669,46732,46733,46735],"class_list":["post-59319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-law-news","tag-bankrupt-hdil","tag-hdil-promoterrakesh-wadhawan","tag-latest-legal-news","tag-multi-crore-rupees-punjab-maharashtra-cooperative-pmc-bank-scam-case","tag-multi-crore-rupees-punjab-maharashtra-cooperative-bank-scam-case","tag-top-llaw-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Court denies interim bail to Rakesh Wadhawan in PMC Bank scam. - Legal News India - Supreme Court &amp; High Court Updates<\/title>\n<meta name=\"description\" content=\"HDIL promoter Rakesh Wadhawan, currently lodged in jail in connection with the multi-crore rupees Punjab &amp; Maharashtra Cooperative (PMC) Bank scam - Get the latest legal news from the Supreme Court, High Courts, and government. 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