PMC Bank: ED identifies HDIL 'gifts' to politicians
(PTI Photo/Shashank Parade) (PTI9_24_2019_000050B)

Mumbai: The Enforcement Directorate (ED) has started identifying the properties and vehicles allegedly 'gifted' by the promoters of HDIL to several politicians in the state, over the years.

Sources said that documents pertaining to these gifts, that include high-end cars and flats in upscale residential apartments, were found during the searches carried out by agency officials at the residence

and official premises of Rakesh and Sarang Wadhwa--proprietors of HDIL-- over the weekend. The father-son duo was arrested last week by the Economic Offences Wing (EOW) in connection with the Rs 4,355 crore fraud in the Punjab and Maharashtra Co-operative (PMC) Bank, following

which the ED had registered an Enforcement Case Information report (ECIR) and carried out the searches.

"We are in the process of identifying these movable and immovable 'gifts' which are going to be confiscated as proceeds of crime," sources added.

Meanwhile, Rakesh Wadhwa's wife Madhvi and his daughter-in-law, Anu (Sarang's wife) were questioned at the ED's Ballard Pier office on Monday in connection with the money laundering probe. Their statements have been recorded.

The questioning was subsequent to the agency's searches at the Wadhwans' premises in Mumbai and a palatial bungalow at Awas in Alibaug on Sunday.

Sources said that four cars-- an Audi, a Toyota Fortuner, an Innova and a Bolero suv, along with a speed boat, two all terrain bikes and an equal number of golf carts, which were found in the bungalow has

been seized. The agency also sealed the 20-bedroom bunglalow, located on a sprawling 2.5 acre compound, that used to be the famous venue for the extravagant Bollywood parties thrown by the Wadhwans'.

Interestingly, the sleuths came across huge collages and photographs of several top-notch Bollywood stars that were adorning the walls of the bungalow. A private jetty had been constructed near the beach side bungalow exclusively for the anchorage of the yachts belonging to the richie rich of Mumbai who were regulars at the Wadhwans' parties.

Side by side, the ED also confiscated another private Jet-- an 11-seater Dassault made Falcon 200-- belonging to the Wadhwans', which was parked at a hanger in the Mumbai airport.

Prior to this, the agency had seized 10 high end vehicles, that include a couple of Rolls Royace, Bentley and other high end sedans, Rs 60 crore worth jewellery and a private jet (Bombardier challenger

300) belonging to the Wadhwans. The agency has also written to the government of Maldives to confiscate and handover an expensive yacht of the Wadhwans'. They had also frozen five accounts belonging to former PMC chairman Waryam Singh.

Meanwhile, sources said that the agency is currently trying to establish the trail of the money worth thousands of crores of rupees which the Wadhwans' are suspected to have diverted for purposes other than the borrowal from the PMC bank.

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