The Enforcement Directorate has attached three Delhi-based hotels worth ₹100 crore in connection with the Punjab and Maharashtra Co-operative (PMC) Bank fraud case.
The hotels are owned by Libra Realtors Private Limited, Deewan Realtors Private Limited, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels Private Limited and its directors.
“Hotel Conclave Boutique is located in Kailash Colony, Hotel Conclave Comfort is in East of Kailash and Hotel Conclave Executive in Kalkaji. They are now known as Fab Hotels,” said an agency official.
The ED probe has revealed that Libra Realtors and Deewan Realtors had fraudulently obtained ₹247 crore as loans from the PMC Bank. These loans are part of the ₹6,117 crore funds owed by the Housing Development Infrastructures Limited (HDIL) group of companies to the bank.
In October 2019, the agency had initiated the money laundering probe against HDIL, Mr. Rakesh Kumar Wadhawan, Sarang Wadhawan, Waryam Singh and Joy Thomas, chairman and managing director of the PMC Bank, and others, based on an FIR registered by the Mumbai Police’s economic offences wing.
The police initially alleged prima facie wrongful loss of ₹4,355 crore to the bank and corresponding gains to those involved.
The ED had earlier attached assets belonging to Mr. Rakesh Kumar Wadhawan and the Wadhawan Family trust, worth ₹193 crore. Jewellery valued at ₹63 crore was also seized.
“A prosecution complaint [chargesheet] has been filed against him and others. Rakesh Kumar Wadhawan and his son Sarang were arrested by the ED on October 17 last year. They are currently in judicial custody,” the official said.