The Bombay High Court has granted bail to Rakesh Wadhawan and Sarang Wadhawan, promoters of HDIL, in a fraud case involving Punjab and Maharashtra Cooperative Bank. They were previously arrested by the Enforcement Directorate and the Mumbai Police’s Economic Offence Wing. The court cited the long incarceration and trial delay as the primary reasons for granting bail, noting the release of a co-accused and the PMC bank’s chairperson on bail.