The Enforcement Directorate (ED) has attached three hotels worth around Rs 100 crore in Delhi in connection with its money laundering probe in the PMC Bank fraud case, the central agency said.
The three hotels have been identified by the agency as the Fab Hotels group and are located in Kailash Colony, East of Kailash and Kalkaji areas of the national capital.
“The attached three hotels are owned by Libra Realtors Pvt Ltd, Deewan Realtors Pvt Ltd, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels Pvt Ltd and its directors,” the agency said in a statement.
It said the “market value” of these three properties is about Rs 100 crore.
The agency said its probe found that “proceeds of crime totalling Rs 247 crore were obtained fraudulently by Libra Realtors Pvt Ltd, Deewan Realtors Pvt from PMC Bank in the guise of loans”.
“These loans are part of the Rs 6,117 crores owed by HDIL group of companies to the PMC Bank,” the ED claimed.
The ED had filed a PMLA case to probe the alleged loan fraud in the Punjab and Maharashtra Co-operative (PMC) Bank in October last year against Housing Development Infrastructure Ltd (HDIL), its promoters Rakesh Kumar Wadhawan, his son Sarang Wadhawan, its former chairman Waryam Singh and ex-managing director Joy Thomas.
The Wadhawan father and son were also arrested by the ED last year in this case and they are in judicial custody at present.