ED Conducts Fresh Raids In Mumbai PMC bank Case

Mumbai, News Nation Bureau | Updated : 08 October 2019, 12:03 AM
Raids are being conducted in connection with the PMC bank money laundering case.
Raids are being conducted in connection with the PMC bank money laundering case. (Photo Credit : IANS )

The Enforcement Directorate on Monday conducted fresh raids at two places in Mumbai including a posh bungalow located in Alibaug in connection with the PMC bank money laundering case, officials said.

They said the 22-room bungalow is of Housing Development and Infrastructure Limited (HDIL) Chairman Rakesh Wadhawan HDIL promoters Wadhawan’s and has been sealed by the agency after the raid.

The investigating agency has also seized Rs 60 crore worth jewellery, a business jet, 15 cars, two fixed deposits worth Rs 1.5 crore and Rs 10 crore in connection with the investigation of the case. Officials said that the bungalow will attached soon. The searches were being conducted after a criminal compliant was filed under the Prevention of Money Laundering Act by the central agency.

The Enforcement Directorate case is based on an FIR filed by the Economic Offences Wing (EOW) of Mumbai police.

The ED and the 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 last week on charges of forgery, cheating and criminal conspiracy against the officials.

With PTI Inputs

First Published: Monday, October 07, 2019 11:57 PM

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