Mumbai Police Economic Offences Wing (EOW) has registered First Information Report (FIR) against Housing Development Infrastructure Limited (HDIL) promoter Sarang Wadhawan for allegedly defrauding Yes Bank.
The FIR stated that Sarang Wadhawan’s firm, Excel Arcade Private Limited - an HDIL group company, had availed a loan of ₹66.41 crore from Yes Bank, but failed to repay the amount.
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