Mumbai: ED Issues Another Provisional Attachment Order Worth ₹36.66 Crore Against HDIL Promoters In Bank Fraud Case

Mumbai: Another Provisional Attachment Order has been issued against bank scam accused father son duo Rakesh and Sarang Wadhwan under the provisions of the PMLA by the Enforcement Directorate (ED) Mumbai on Saturday.

The attached assets in the form of commercial properties consisting of two office units admeasuring approx. 22366 sq ft area in Kaledonia building, Andheri (East), Mumbai and Shops Nos. 1 to 27 admeasuring total carpet area of 3541.79 Sq ft situated in Veena Velocity Phase II, Diwanman, Dist Palghar, Maharashtra worth Rs 36.66 Crore of M/s Veena Developers in BankFraud case pertaining to Rakesh Wadhawan and Sarang Wadhawan Promoters of HDIL and others (Mack Star Case). Total attachment in this case now stands at Rs 281.02 Crore.

Earlier on Friday ED had attached the assets of the scam tainted HDIL promoters Rakesh and Sarang Wadhawan valued at 40.37 crore in the form of commercial properties 3958.15 sq/ meters carpet area in Kaledonia Building, Andheri East, Mumbai.

ED had initiated investigation on the basis of an FIR registered CBI (ACB), Mumbai the against the Wadhawan father and son duo for siphoning off the loans of Rs. 200 Crore sanctioned by Yes Bank to Mack Star Marketing Pvt.