Wadhawans to be shifted from Arthur Rd jail to Bandra homes

Promoters of Housing Development and Infrastructure Limited (HDIL), Rakesh Kumar Wadhawan and his son Sarang, will soon be shifted out of Arthur Road jail to their

Promoters of Housing Development and Infrastructure Limited (HDIL), Rakesh Kumar Wadhawan and his son Sarang, will soon be shifted out of Arthur Road jail to their residence in Bandra (East) to ensure their cooperation in the recovery process. The Wadhawans are among the key accused in the Rs 4,355-crore fraud at Punjab and Maharashtra Co-operative (PMC) Bank. On Wednesday, the Bombay high court (HC) ordered that the Wadhawans be placed under house arrest to ensure their cooperation in the process of selling properties owned by HDIL and mortgaged to the PMC Bank.

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The bench of justices justice Ranjit More and Surendra Tavade also restrained lower courts from entertaining bail pleas of either one of the Wadhawans. “Courts below will not entertain bail pleas of respondent nos. 4 and 5 till the next date,” said the bench. “However, to ensure the cooperation of respondent nos. 4 and 5, both of them would remain in custody with two guards each at their respective residences.” The Wadhawans have been ordered to bear the expenses of the guards.

To ensure compliance of the directions of the three-member committee appointed by the HC to ensure speedy recovery of dues in this case, the Wadhawans may travel within the jurisdiction of the HC.