DHFL-Yes Bank case: Special Court grants bail to developer Satyan Tandon

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A special CBI Court on Saturday granted bail to a developer Satyan Tandon arrested in Dewan Housing Finance Limited (DHFL)- Yes Bank case.
The central agency had alleged that Tandon’s Wizard Construction India Pvt Ltd received amounts from firm under developer Sanjay Chhabria’s Radius Group and were part of loans disbursed by Yes Bank to DHFL, which were being diverted.
Recently, Tandon had volunteered to deposit Rs. 4 crore in the bank’s account without guilt, which the court permitted.
Special CBI judge S U Wadgaonkar on Saturday was told that the said amount was deposited after which he was directed to be released on cash bail of Rs. 1 lakh. Tandon is further directed to furnish sureties within a month’s time.
The Court said that the amount deposited in Yes Bank be adjusted in the loan account taken by M/s. Belief Realtors Private Limited (BRPL) by Yes Bank.
The Court also directed Tandon to deposit his passport with the CBI and to attend Investigating officer every week till the filing of chargesheet. The Court said that he should not travel abroad without court permission.

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