Mumbai: The Enforcement Directorate (ED) on Monday said it has seized and identified assets worth ₹3,830 crore, including private jets and a yacht, in connection with its probe in the PMC Bank money laundering case.
As per the agency’s investigations the funds of the bank were misused and allegedly siphoned off.
“An amount of ₹98 crore of loan from PMC Bank was diverted to M Estate Developers, a proprietorship concern of close business associate of Rakesh Kumar Wadhawan," said ED in the press statement.
The case pertains to directors and promoters of the real estate company Housing Development and Infrastructure Limited (HDIL) having availed themselves of loans from PMC bank in a fraudulent manner and cheating the bank.
The total proceeds of crime involved in this case have been determined at ₹4,355 Crore by ED and Economic Offences Wing (EOW) of Mumbai police.
Attachment by EOW so far includes 10 high end luxurious cars such as Rolls Royce, Bentley and Range Rover seized from the residential premises of Rakesh Kumar Wadhawan.
Documents relating to purchase of 2,112 acres of land have been found and the present value of the said land is likely to be more than ₹3,000 crore, ED said.
Jewellery worth approximately ₹66 crore has been seized from various residential premises, including residence of Meena Rohra, business associate of Rakesh Kumar Wadhawan.
Four more vehicles, including Audi, Fortuner, Innova and Scorpio, three Buggies, two Quadros (all terrain bikes) and a speed boat were seized from the farm house at Awas, Alibaug.
Two aircraft, namely Bombardier Challenger – 300 VT and Falcon 2000 VT HDL owned by Privilege Airways Private Limited, have been identified.
An 88-feet long yacht ‘Ferretti 881 HT" named Samara1, which is registered under Panama Flag, owned by Sapphire Land Development Private Ltd (a group company of HDIL) presently located in Maldives has also been barred from being alienated.