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).
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.
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.
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.
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.
On Thursday, Economic Offences Wing had arrested HDIL directors Rakesh Wadhawan and his son Sarang Wadhawan in the case.
A total of 10 out of 44 accounts which led to PMC Bank falling in debt were linked to HDIL.
The Economic Offences Wing arrested Sarang Wadhawan and Rakesh Wadhwan after the duo failed to cooperate in the investigation.
Wadhawan said the company is facing a temporary cash flow issues due to slowdown in the real estate sector.
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.
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.
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.
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.
However, HDIL intends to appeal the NCLT’s order kickstarting the resolution process under the Insolvency and Bankruptcy Code.