Sunday 15 December 2019
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business-standard - 23 days ago

PMC Bank case: ED nod for sale of Rs 200 crores worth properties of Wadhwans

The Enforcement Directorate has given its nod for sale of two private jets and a yacht owned by HDIL promoters Rakesh Kumar Wadhawan and Sarang Wadhawan in connection with the PMC Bank scam.In a reply filed in a court on a petition of PMC administrators seeking detachment of Wadhwans properties, the Enforcement Directorate (ED) on Thursday said it has no objection to the sale of jets and yacht worth around Rs 200 crores. The ED does not have any objection for the disposal of the aeroplanes and yachts by the EOW (Economic Offence Wing of Mumbai Police), the agency submitted in the court of Chief Metropolitan Magistrate.The sale of the two jets and yacht has received no-objection from all the parties in the case.The Punjab and Maharashtra Bank (PMC), through its RBI-appointed administrators, had moved the court seeking sale of HDIL s attached and mortgaged properties to repay its depositors.However, the ED said it can t give NOC for attached cars as it s being considered by ...


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