Promoters of HDIL, central to PMC Bank mess, arrested3 min read . Updated: 03 Oct 2019, 11:38 PM IST
- Rakesh and Sarang Wadhawan held on financial fraud charges, assets worth ₹3,500 cr attached
- The arrests comes on the back of their alleged involvement in irregularitie at PMC Bank, which prompted RBI to impose regulatory restrictions on the bank for six months
Mumbai: Promoters of debt-ridden Housing Development and Infrastructure Ltd (HDIL) Rakesh and Sarang Wadhawan were arrested on Thursday by the economic offences wing (EOW) of the Mumbai Police on charges of financial fraud for their role in the Punjab and Maharashtra Co-operative (PMC) Bank scam.
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