PMC scam: Court gives nod to sell two jets, yacht of Wadhawans

Chief Metropolitan Magistrate R K Rajebhosale on Monday allowed the sale of two aircraft- Falcon 2000 (VT-HDL) and Challenger 300 (VT-PIL)- and one yatch (Ferreti 881 HT).

published on : 27th November 2019

PMC Bank scam: Custody of HDIL's father-son duo extended, another depositor dies in Solapur

The ED produced HDIL chairman and MD Rakesh Wadhawan and his son Sarang Wadhawan before special PMLA court judge P Rajvaidya, after their remand ended on Tuesday.

published on : 22nd October 2019

Scam-hit HDIL appoints property consultant Knight Frank to value 40 land assets

While the principal loan on these 40 properties is around Rs 2,200 crore, PMC Bank has been accused of fraudulently extending Rs 4,500 crore to HDIL on the back of security of these properties.

published on : 17th October 2019

PMC Bank case: Ex-MD Joy Thomas to stay in police custody till October 17

Thomas' lawyer has alleged that his client is being made a 'scapegoat' as Thomas was just an employee of the bank and not a decision-maker.

published on : 5th October 2019

PMC Bank created over 21,000 fake accounts to hide defaults by HDIL: Sources

The Economic Offences Wings of city police disclosed the information while seeking custody of chairman and managing director of HDIL Rakesh Wadhawan and his son Sarang, arrested the day before.

published on : 5th October 2019

PMC Bank case: Former MD Joy Thomas arrested by Mumbai police; ED conducts raids

On Thursday, Economic Offences Wing had arrested HDIL directors Rakesh Wadhawan and his son Sarang Wadhawan in the case.

published on : 4th October 2019

PMC Bank case: HDIL Directors sent to police custody till October 9

A total of 10 out of 44 accounts which led to PMC Bank falling in debt were linked to HDIL.

published on : 4th October 2019

Mumbai Police arrest two HDIL directors in PMC bank case

The Economic Offences Wing arrested Sarang Wadhawan and Rakesh Wadhwan after the duo failed to cooperate in the investigation.

published on : 3rd October 2019

PMC Bank crisis: HDIL says loans taken after providing 'adequate security' cover

Wadhawan said the company is facing a temporary cash flow issues due to slowdown in the real estate sector.

published on : 1st October 2019

FIR against PMC Bank chairman, MD, HDIL heads

The FIR states that PMC Bank officials, along with HDIL directors, had caused the loss by not declaring NPAs even though there was no repayment of dues between 2008 and August 2019.

published on : 1st October 2019

Police file FIR against PMC Bank, HDIL officials; SIT formed

The bank's former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with the director of HDIL, Wadhawan, have been named in the FIR.

published on : 30th September 2019

After PMC, three more cooperative bank books under scanner

The revelation came after a board member sent the balance sheet to RBI. On Friday, Thomas claimed that the exposure was Rs 2,500 crore.

published on : 30th September 2019

RBI wanted Punjab and Maharashtra Cooperative Bank chairman Waryam Singh to be sacked in 2018

According to the source, of the Rs 8,880-crore loan book  that PMC had, more than Rs 6,500 crore or over 73 per cent of the assets are with the bankrupt HDIL group only.

published on : 29th September 2019

Housing giant HDIL files for insolvency 

However, HDIL intends to appeal the NCLT’s order kickstarting the resolution process under the Insolvency and Bankruptcy Code. 

published on : 1st September 2019