111th Day Of Lockdown

Maharashtra25442714032510289 Tamil Nadu138470895321966 Delhi112494899683371 Gujarat41906291982046 Karnataka3884315411686 Uttar Pradesh3647623334934 Telangana3467122482356 West Bengal3001318581932 Andhra Pradesh2916815412328 Rajasthan2439218103510 Haryana2124015983301 Madhya Pradesh1763212876653 Assam168071089541 Bihar1630511953125 Odisha13737875091 Jammu and Kashmir105135979179 Kerala7874409532 Punjab78215392199 Chhatisgarh4081315319 Jharkhand3760230831 Uttarakhand3537278647 Goa2453120714 Tripura206714212 Manipur16098960 Puducherry141873918 Himachal Pradesh121391610 Nagaland8453270 Chandigarh5594178 Arunachal Pradesh3601382 Meghalaya295452 Mizoram2311500 Sikkim164810
Business Companies 04 Oct 2019 HDIL promoters, PMC ...

HDIL promoters, PMC board members charged with money-laundering

DECCAN CHRONICLE / PTI
Published Oct 4, 2019, 10:32 am IST
Updated Oct 4, 2019, 11:33 am IST
Mumbai Police arrested the tow directors at HDIL, Rakesh Wadhawan and Sarang Wadhawan on Thursday.
Two chiefs of HDIL that triggered off the crisis at PMC Bank by defaulting on loans worth nearly Rs. 6,500 crore were arrested in Mumbai on Thursday.
 Two chiefs of HDIL that triggered off the crisis at PMC Bank by defaulting on loans worth nearly Rs. 6,500 crore were arrested in Mumbai on Thursday.

Mumbai: An investigation for money-laundering in the Punjab and Maharashtra Co-operative Bank (PMC) loan default case has been initiated by the Enforcement Directorate.

Six locations linked to the former chairman of the PMC Bank and promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) were searched by the ED in Mumbai and adjoining areas on Friday, officials said.

 

They said the raids were being conducted after a criminal compliant was filed under the Prevention of Money Laundering Act by the ED. The Enforcement Directorate case is based on an FIR filed by the Economic Offences Wing (EOW) of Mumbai police.

The raids are aimed at gathering additional evidence, ED sources said. The ED and Mumbai Police case is against former bank management and promoters of the Housing Development Infrastructure Limited (HDIL). Based on a complaint by an RBI-appointed administrator, the police complaint was filed earlier this week on charges of forgery, cheating and criminal conspiracy against the officials.

 

Two chiefs of HDIL that triggered off the crisis at PMC Bank by defaulting on loans worth nearly Rs. 6,500 crore were arrested in Mumbai on Thursday. Economic Offences Wing of the Mumbai Police arrested the two directors at HDIL, Rakesh Wadhawan and Sarang Wadhawan.

According to the initial investigation, police said, the PMC Bank's losses since 2008 were Rs 4,355.46 crore. The bank's former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with a director of HDIL, have been named in the FIR.

...




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT