ED suspends bank account of HDIL promoter’s wife

ED suspends bank account of HDIL promoter’s wife
07/01/2020 , by , in News/Views

The Enforcement Directorate (ED) has frozen a bank account belonging to Anu Wadhawan, the wife of Sarang Wadhawan, the jailed promoter of Housing Development Infrastructure Limited (HDIL). The real estate firm is being probed in a money-laundering case related to its unpaid loans from the beleaguered Punjab & Maharashtra Cooperative (PMC) Bank.

Sources in the ED said the account, with around Rs 5 crore in it, was frozen for its links to HDIL’s unpaid loans. “The account has been frozen as the fund is part of the proceeds of crime,” an ED source said. Anu Wadhawan, also known as Anu Dewan in social circles, is not an accused in the case.

Under the provisions of the Prevention of Money Laundering Act (PMLA), the ED has so far attached HDIL’s immovable assets worth over Rs 193 crore, which include land and bank accounts. The attached assets belonged to the accused promoters Rakesh Kumar Wadhawan and his son Sarang, their family members and the Wadhawan family’s personal trust.

Among the attached land and structures are the Palghar-based groundplus one bungalow, the 7,144 sq mt ‘Dewan Villa’ valued at Rs 16.93 crore, land admeasuring 836.20 mt and a residential building valued at Rs 73.17 crore in Bandra West.

Besides, the ED has also seized jewellery and valuables worth Rs 63.75 crore, of which jewellery worth Rs 41.16 crore belonged to Anu Wadhawan.

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