PMC Bank case: ED raids five locations, arrests 2 top officials of Viva Group
Viva Group Managing Director Mehul Thakur and Director Madan Gopal Chaturvedi have been arrested by the Enforcement Directorate (ED) in connection with Punjab and Maharashtra Cooperative Bank (PMC) and Housing Development and Infrastructure Limited company scam, said officials on Saturday.
On Friday, the ED conducted searches at five premises belonging to Viva Group and its associates.
The premises included a registered office of Viva Group in Virar, a residential premise of the concerned person of Viva Group in Virar, one associated office premise of Viva Group in Andheri, and two residential premises of two financial consultants of Viva Group in Juhu and Chembur respectively. During the search, ₹73 lakh cash, incriminating digital and documentary evidence has been recovered, ED said in a release.
The ED initiated an investigation under the Prevention of Money Laundering Act, 2002 (PMLA) against Housing Development Infrastructures Limited (HDIL), Rakesh Kumar Wadhawan, Sarang Wadhawan, Waryam Singh and Joy Thomas, Chairman and Managing Director of PMC Bank Limited and others on the basis of FIR registered by Economic Offences wing of Mumbai Police under Sections 409, 420, 465, 466, 471 read with 120B of IPC, 1860 for causing wrongful loss prima facie to the tune of ₹4,355 crore to PMC Bank and corresponding gain to themselves, it added.
Several properties of Rakesh Kumar Wadhawan and Wadhawan family trust and others valued at ₹293 crore were also attached and jewellery worth ₹63 crores was seized earlier, the officials said.
A prosecution complaint has been filed against Rakesh Kumar Wadhawan and others under PMLA, they stated in a release.
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- While rejecting the anticipatory bail, the court said there was a strong indication of the applicant’s involvement in the offence.