HDIL owns 1,700 acre in Sindhudurg: ED

MUMBAI: Now, the Enforcement Directorate (ED) has identified 1,700 acres of land owned by HDIL and its promoters Rakesh Wadhawan and son Sarang (Sunny) near Vijaydurg Port in Sindhudurg district. It has also traced four Andheri West flats of former PMC Bank chairman Waryam Singh, the other accused in a money laundering case filed in the Rs 4,355 crore bank fraud.
ED moved an application before the court on Wednesday to take Wadhawans into custody for questioning.
On Wednesday, the Wadhawans issued a statement denying the money laundering allegation. The letter stated the government authority should auction their plane, yacht, 13 cars, two electric cars, three quad bikes and a speedboat attached by the ED. It further said in the interest of depositors, government authorities should sell these depreciable assets at a fair market value and adjust the money against the loan taken by them from PMC.
Meanwhile, Raigad collector has served a showcause notice to 17 bungalow owners in Alibag in connection with coastal regulation zone violations. One, spread over 2,200 square metres, is owned by Rakesh Wadhawan. (Inputs by Umesh K Parida)