MUMBAI: Enforcement Directorate (ED) raided various premises of HDIL promoters Rakesh Wadhawan and his son Sarang, aka Sunny, on Friday and seized around half a dozen luxury cars. ED officials are also inquiring about their Ferretti 881 yacht for seizure.
Late on Thursday, ED registered a money laundering case against Rakesh, who is HDIL’s executive chairman, Sarang, who is the real estate group’s vice-chairman and MD, Waryam Singh, the chairman of Punjab and Maharashtra Cooperative (PMC) Bank and other senior executives of both HDIL — which is short for Housing Development and Infrastructure Ltd — and the PMC Bank.
Late on Thursday, ED registered a money laundering case against Rakesh, who is HDIL’s executive chairman, Sarang, who is the real estate group’s vice-chairman and MD, Waryam Singh, the chairman of Punjab and Maharashtra Cooperative (PMC) Bank and other senior executives of both HDIL — which is short for Housing Development and Infrastructure Ltd — and the PMC Bank.
