PMC Bank case: ED attaches HDIL promoter's 5-acre bungalow near Mumbai in money laundering probe
A private business jet, Dassault Falcon 200 owned by accused Rakesh Wadhawan of HDIL was earlier seized by the ED
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The posh bungalow known as 'Diwan Bungalow' is spread over 5 acres in Dev Talao of Vasai (West)
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The property allegedly belongs to Rakesh Wadhwan and his son, Sarang Wadhwan who are in Mumbai police's custody till 14 October
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A private business jet, Dassault Falcon 200 owned by accused Rakesh Wadhawan of HDIL was earlier seized by the ED
Mumbai: The Enforcement Directorate on Thursday sealed a bungalow of a HDIL promoter near Mumbai in connection with its money laundering probe in the Punjab and Maharashtra Co-operative (PMC) bank case, officials said.
Sources say that the posh bungalow known as 'Diwan Bungalow' is spread over 5 acres in Dev Talao of Vasai (West), according to a PTI report.
The property was owned by Rakesh Wadhwan and his son, Sarang Wadhwan who are in Mumbai police custody till 14 October, a report in India Today said.
PMC Bank. PTI photo
The ED is probing alleged financial irregularities under the Prevention of Money Laundering Act (PMLA) after it filed a criminal case recently.
A private business jet, Dassault Falcon 200 owned by accused Rakesh Wadhawan of HDIL was earlier seized by the agency.
The business jet was parked in the hangar at the Mumbai airport. Before this, a Bombardier Challenger 300 belonging to the HDIL directors was seized by the agency, the report said.
It had earlier seized Rs 60 crore worth jewellery, a business jet, 15 cars, two fixed deposits worth Rs 1.5 crore and Rs 10 crore in connection with the case.
Mumbai: Enforcement Directorate (ED) seized the private Jet and cars of Housing Development and Infrastructure (HDIL) promoters Rakesh and Sarang Wadhawan in PMC bank case, last week pic.twitter.com/e67SYrQcsb
— ANI (@ANI) October 7, 2019
The ED case is based on an FIR filed by the Economic Offences Wing of Mumbai police.
The agency and Mumbai police case, based on a complaint by an RBI-appointed administrator, is against the former bank management and promoters of HDIL.
The complaint was filed last week on charges of forgery, cheating and criminal conspiracy against the officials.
--With PTI inputs
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