Hdil

Rs 140-cr bank fraud case: CBI books HDIL promoters Rakesh, Sarang Wadhawan

The CBI has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan in a new bank fraud case involving an amount of Rs 140 crore pertaining to their subsidiary Guruashish Construction, officials said on Thursday. The fresh action was initiated on a complaint from the Union Bank of India against the businessmen who are embroiled in a Rs-4,300 crore Punjab and Maharashtra Cooperative (PMC) Bank scam case, they said. The bank has alleged that Guruashish Construction was a wholly-owned subsidiary of Housing Development and Infrastructure Limited (HDIL) engaged in the real estate business in Mumbai. The Wadhawans were booked by the Central Bureau of Investigation (CBI) in October 2020 in connection with a Rs 200 crore alleged loan fraud from Yes Bank and have been facing investigation by multiple agencies. They are also being probed by the Enforcement Directorate (ED) as part of another Prevention of Money Laundering Act case related to an alleged loan fraud at the PMC Bank involving

After PMC Bank, Wadhawans duped Indian Bank of Rs 279 crore

The Chennai-based public sector Indian Bank has admitted to a major loan default of Rs 279 crore by the realty group, Housing Development & Infrastructure Ltd (HDIL) Mumbai, and its suspended Directors -- Rakesh Kumar Wadhawan and son Sarang Wadhawan.

HDIL insolvency: Financial creditors to meet on March 9-10 to discuss bids

Financial creditors of HDIL will meet on March 9-10 to discuss bids for acquiring the crisis-hit realty firm through insolvency proceedings. In a regulatory filing on Saturday, HDIL's Resolution Professional Abhay N Manudhane informed that the "Twenty-Third meeting of Committee of Creditors will be held on 9th March 2022 and shall continue on 10th March 2022." The filing did not mention about the agenda of the meeting. Last month, HDIL had informed that its resolution professional has received 16 bids from nine applicants to acquire the company. "The Resolution Professional of the company has received sixteen resolution plans from nine Prospective Resolution Applicants (PRAs), HDIL had said. Housing Development and Infrastructure Ltd (HDIL) is under Corporate Insolvency Resolution Process (CIRP) pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. Its affairs, business and assets are being managed by the Resolution Professional Abhay N Manudhane, who was appoin

HDIL insolvency: RP gets 16 resolution plans from 9 bidders

Crisis-hit realty firm HDIL, which is facing insolvency proceedings, on Friday said its resolution professional has received 16 bids from nine applicants to acquire the company

PMC Bank fraud: ED attaches HDIL group's shares worth Rs 233 crore

ED said it has attached partly-paid compulsorily convertible preference shares worth Rs 233 crore of HDIL group companies in the alleged multi-crore-rupee PMC Bank fraud and money-laundering case

Curbs on PMC Bank extended by 3 months, lender gets four revival proposals

The bank had invited EoIs from eligible investors for investment/equity participation for its reconstruction

YES Bank case: CBI registers case against HDIL promoters Wadhawans

Searches conducted at residences, offices of Wadhawans

PMC Bank fraud case: ED attaches three hotels worth Rs 100 cr in Delhi

The three hotels have been identified by the agency as the Fab Hotels group and are located in Kailash Colony, East of Kailash and Kalkaji areas of the national capital

Valuation drop, legal complications likely to hit HDIL's sale prospects

Suitors may prefer individual projects while bidding

Adani, Sunteck Realty, Suraksha Asset show interest in acquiring HDIL

The invitation for EOI was first published in February and subsequently revised five times till July. Submission of EOI was closed on July 31

Adani group, Suraksha, Sunteck Realty submit EOI to acquire debt-laden HDIL

HDIL is under corporate insolvency resolution process pursuant to the provisions of the IBC, 2016

NCLAT upholds NCLT order to initiate insolvency proceedings against HDIL

"In view of our finding as aforesaid, no interference is called for against the impugned Order dated August 20, 2019. Therefore, Appeal fails," said the NCLAT bench

Double trouble: PMC Bank asked to deduct TDS on notional interest paid

CBDT asks lender to deduct tax at source on notional interest paid

SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues

A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order

Top headlines: WhatsApp Pay set for phased roll out in India, SBI cuts MCLR

From WhatsApp Pay's phased roll out in India to PhonePe's plans of creating world's biggest ATM network in India, here are the day's top headlines

PMC Bank scam: No relief for Wadhawans as SC stays HC order on house arrest

The high court had set up a three-member committee for valuating and sale of encumbered assets of HDIL to expeditiously recover dues payable by the firm to PMC bank

PMC Bank crisis: Bombay HC forms committee to auction HDIL assets

The Wadhawans shall help the committee in valuation of HDIL's encumbered properties, the court said

PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht

These assets belong to HDIL group firms owned by Rakesh Wadhawan and his son Sarang, the prime accused in the Rs 6,500-crore scam at the cooperative lender

HDIL, its promoters to repay loan to PMC Bank, assets to be sold soon: HC

The court also said that the assets of HDIL and Wadhawans must be sold at the earliest in the interest of the PMC Bank and its depositors

No objection if HDIL properties are sold off: Wadhawan tells High Court

Sarang Wadhawan filed an affidavit on Wednesday in response to a public interest litigation filed by lawyer Sarosh Damania.