NEW DELHI: The CBI has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, along with other directors and auditors in the firm, in an alleged Rs 200-crore loan fraud in Yes Bank involving Mack Star, officials said Friday.
After registering the case, the CBI searched the residence of Rakesh Wadhawan and his son Sarang in Mumbai, they said.
The agency also carried out searches at nine other premises in Mumbai, including two offices of HDIL, they said.
It is alleged that Yes Bank had given loan to Mack Star in which HDIL was a minority shareholder.
It is alleged the funds transferred to Mack Star by Yes Bank as loan were transferred to accounts of HDIL group companies to repay its loan to the bank, they said.
Sarang Wadhawan had reportedly denied any wrongdoing in the transactions.
After registering the case, the CBI searched the residence of Rakesh Wadhawan and his son Sarang in Mumbai, they said.
The agency also carried out searches at nine other premises in Mumbai, including two offices of HDIL, they said.
It is alleged that Yes Bank had given loan to Mack Star in which HDIL was a minority shareholder.
It is alleged the funds transferred to Mack Star by Yes Bank as loan were transferred to accounts of HDIL group companies to repay its loan to the bank, they said.
Sarang Wadhawan had reportedly denied any wrongdoing in the transactions.
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CBI registers case against HDIL promoters Wadhawans for Rs 200-crore loan fraud in Yes Bank
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2 Comments on this Story
 | RajeshK13 minutes ago Attitude is everything. https://amzn.to/36QsI0j |
| Nuraj Bakshi24 minutes ago It seems no justice being delivered quickly having known all frauds for years and delayed recovery is taking toll on banks performances!! Basically government has entangled in its own laws and judiciary system due to manipulation in implementation and its lethargic judicial system where judges enjoyed cases till they are retired and delivers bullshiit justices without any accountability but still get handsomely rewarded shows nexus between judges and evil politicians in power who have together made mockery of democratic values!! |