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PMC Bank case: ED seizes private jet, cars of HDIL promoters

ANI | Updated: Oct 05, 2019 23:54 IST

New Delhi [India], Oct 5 (ANI): The Enforcement Directorate (ED) has seized the private jet and cars of the Housing Development Infrastructure Limited (HDIL) promoters in connection with the Punjab and Maharashtra Cooperative (PMC) Bank case.
The law enforcement agency had raided the premises of HDIL promoters on Friday.
The promoters of debt-ridden Housing Development and Infrastructure Ltd (HDIL) Rakesh and Sarang Wadhawan, accused in the scam, were sent to police custody till October 9, yesterday.
The duo was arrested after they failed to cooperate in the investigation. A total of 10 out of 44 accounts that led to the bank falling in debt were linked to HDIL. Personal accounts of the accused were among those 10 accounts.
According to the police, PMC bank officials gave loans to HDIL between 2008 and 2019 despite no repayment of the previous loans.
The FIR was registered under various sections of the Indian Penal Code (IPC), including criminal breach of trust, cheating, and forgery. (ANI)