EDA Wadhwan owned Rs. Found 2100 acres worth 3500 crores

New delhi date. October 12, 2019, Saturday

The Enforcement Directorate (ED) owns HDIL and its promoter Rakesh Wadhwan and son Sarang Wadhwan. 2,100 crore worth of land worth Rs 3500 crore has been discovered. The land is situated in seven villages in the belt of Vasai-Palghar.

These plots were purchased by Wadhwan for a township in Vasai-Palghar, but the township never became. ED officials are investigating whether the land was purchased in the name of the mortgagee or in the name of HDIL.

According to media reports, HDIL and its promoters mortgaged 600 acres of this land to PMC Bank. Another 400 acres was mortgaged to other banks. The names of these banks are given in the report.

Media reports say that against these lands, the PMC and other banks will pay Rs. 800 crore loan was taken. The rest of the land is free of loans.

The ED has found wealthy properties in the Gulf countries and in Britain as well. He spent Rs. A yacht worth Rs 200 crore has also been discovered. They will soon confiscate the yacht and hand it over to the Maldivian authorities.

The ED had earlier raided some properties of Wadhwan and his family members. Agency officials seized two private business jets, including the nine-seat Dassault Falcon 200 and a Bombardier Challenger 300.

ED officials also confiscated Audi, Toyota Fortuner and Toyota Innova, all-terrain bikes, a speedboat and two golf carts during a raid on a two-and-a-half-acre house on Alibagh's housing beach. Overall, the agency seized a fleet of 15 luxury cars, including Rolls Royce and Bentley.