INSUBCONTINENT EXCLUSIVE:
The Enforcement Directorate (ED) has attached assets worth Rs 100 crore under the Prevention of Money Laundering Act (PMLA) in connection
with the PMC Bank fraud case
As per inputs, these include three immovable properties in New Delhi.Assets attached by the agency consist of three hotels owned by Libra
Realtors Pvt Ltd, Deewan Realtors Pvt Ltd, Rakesh Kumar Wadhawan, Romy Mehra, and Libra Hotels Pvt Ltd and its directors, officials said.The
names of the attached hotels are - Hotel Conclave Boutique now known as FAB HOTELS at A-20, Kailash Colony, New Delhi, Hotel Conclave
Comfort now known as FAB HOTELS at D-150, East of Kailash, New Delhi and Hotel Conclave Executive, now known as FAB HOTELS at C-22, Kalkaji,
New Delhi."Investigation has revealed that proceeds of crime totaling to Rs.247 crore were obtained fraudulently by Libra Realtors Pvt Ltd,
Deewan Realtors Pvt from PMC Bank in the guise of loans
These loans are part of the Rs 6,117 crores owed by the HDIL group of companies to PMC Bank," the Enforcement Directorate asserted.The ED
had initiated an investigation under PMLA on October 3, 2019 against Housing Development Infrastructures Ltd (HDIL), Rakesh Kumar Wadhawan,
Sarang Wadhawan, Waryam Singh and Joy Thomas, Chairman and Managing Director of PMC bank Ltd among others
This was done on the basis of an FIR registered by Economic Offences wing of Mumbai Police for causing wrongful loss prima facie to the tune
of Rs 4,355 crore to PMC Bank and corresponding gain to themselves.Earlier, assets belonging to accused Rakesh Kumar Wadhawan and Wadhawan
Family trust worth Rs 193 crore were also attached and jewelry worth 63 crores was seized.A chargesheet has been filed in this case against
Rakesh Kumar Wadhawan and others.Rakesh Kumar Wadhawan and his son Sarang Wadhawan were arrested by ED on October 17, 2019.
