Two HDIL directors held in PMC Bank scam; property attached
Mumbai police on Thursday arrested two directors of the Housing Development Infrastructure Limited (HDIL) in the PMC Bank scam, a senior official said.
Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing (EOW). Properties worth Rs 3,500 crore of HDIL have also been frozen by the EOW.
The development came three days after an FIR was registered and a Look Out Notice was issued against 17 persons, including the father-son duo.
The RBI was forced to stepped in and put restrictions after the bank crisis came to light last week.
