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Falcon jet, seaside farmhouse: HDIL’s assets attached by enforcement directorate in Maharashtra
Mumbai: The Enforcement Directorate (ED) on Monday attached a seaside farmhouse in Alibaug, a Falcon-200 jet and a speedboat among other high-end assets belonging
Mumbai: The Enforcement Directorate (ED) on Monday attached a seaside farmhouse in Alibaug, a Falcon-200 jet and a speedboat among other high-end assets belonging to Housing Development Infrastructure Limited (HDIL), which is in bankruptcy court after failing to repay its debt. The seizures were part of ED’s probe into allegations of money laundering by HDIL directors Rakesh Kumar Wadhawan and his son Sarang in connection with the Punjab and Maharashtra Co-operative (PMC) Bank fraud case.
“Our probe will be focused on the money laundering aspect and on recovering stolen assets. We have to establish the money trail and probe where it has been diverted,” said an ED officer privy to the case. “We are identifying properties, especially movable assets, and trying to secure the accounts. We have found deposits worth ₹1.50 crore by the Wadhawans,” the officer added. The ED is also searching properties owned by close associates and identifying overseas properties owned by the Wadhawans.
At the 22-room farmhouse, built on a two-and-a-half acre plot in Awas village in Alibaug tehsil, the ED found two battery-operated golf carts, three mountain bikes, a speedboat and three high-end cars (an Audi, a Toyota Fortuner and an Innova). The farmhouse was used by the Wadhawans to host lavish parties, often attended by Bollywood celebrities. The bungalow is one of the 159 structures that were served notices by Raigad revenue authorities for violating coastal regulation zone (CRZ) norms. Also on that list are bungalows owned by the key accused in the Punjab National Bank scam, Nirav Modi and Mehul Choksi.
The ED also seized a Falcon-200 jet, parked at the international airport. This is the second jet to be attached, after the Bombardier seized on Saturday.
ED has also begun probing the details of an HDIL building in Bandra (East). “We will attach if it’s free of encumbrance,” said the ED officer.
Last week, 15 cars belonging to the Wadhawans – including a Mercedes Benz, Bentley and Rolls Royce – had been seized in addition to deposits, cash, antique jewellery and other assets. On Saturday, the ED questioned Sarang Wadhawan’s wife Anu and mother Malti.
