1,700-acre Sindhudurg land under scanner

The Enforcement Directorate (ED) is in the process of seizing approximately 1,700 acres in Sindhudurg district linked to Housing Development Infrastructure Limited

The Enforcement Directorate (ED) is in the process of seizing approximately 1,700 acres in Sindhudurg district linked to Housing Development Infrastructure Limited (HDIL) as part of its probe into the ₹4,355-crore fraud allegedly carried out at PMC Bank. This is the second parcel of land in the area that the agency has seized while investigating HDIL. The ED will probe if these properties are proceeds of crime.

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Last week, the agency had attached 160 acres of land in Sindhudurg, which HDIL had acquired in 2013-14 and is now valued at around ₹125 crore. The properties identified and attached in the PMC Bank fraud case were valued at ₹3,800 crore.

Today, the ED confirmed that it had identified more properties for seizure. “The land admeasuring 1,700 acres in Sindhudurg is in process of being seized,” said a senior ED officer privy to the investigation. According to the ED, HDIL would purchase large tracts of land near development projects that were being undertaken by the government, in anticipation of land prices appreciating in the area.

In addition to this, the ED has also identified for seizure four flats in Andher’s Four Bungalows area that are in the names of former chairperson of PMC Bank Waryam Singh’s wife and son. The ED has also attached 80 acres, valued at Rs 110 crore, in Greater Noida and near the Yamuna Expressway.