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  • CBI books HDIL promoters Wadhawans for Rs 200-crore loan fraud in Yes Bank: Officials Oct 09, 2020 08:10 PM IST

    CBI books HDIL promoters Wadhawans for Rs 200-crore loan fraud in Yes Bank: Officials

    It is alleged that Yes Bank had given loan to Mack Star in which HDIL was a minority shareholder.

  • Adani group, Suraksha, Sunteck Realty submit EOI to acquire debt-laden HDIL Aug 04, 2020 01:10 PM IST

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

    Adani Properties and Suraksha group had participated in the insolvency resolution process of Jaypee Infratech, which eventually was acquired by the state-owned NBCC.

  • NCLAT upholds NCLT order to initiate insolvency against HDIL, rejects Rakesh Wadhwan's plea Jul 14, 2020 06:30 PM IST

    NCLAT upholds NCLT order to initiate insolvency against HDIL, rejects Rakesh Wadhwan's plea

    Earlier on August 20, 2019, the Mumbai bench of National Company Law Tribunal (NCLT) had directed to initiate insolvency proceedings against HDIL, after allowing the insolvency plea filed by Bank of India, claiming default of a loan of Rs 522 crore by the realty firm.

  • HDIL CFO, company secretary Darshan Majmudar resigns Jul 08, 2020 02:00 PM IST

    HDIL CFO, company secretary Darshan Majmudar resigns

    "Since the company is under corporate insolvency resolution process, the resignation of Darshan Majmudar as a chief financial officer (CFO) and company secretary of the company will be put before members of committee of creditors for their consideration and approval at the ensuing meeting," HDIL said in a regulatory filing.

  • SC stays Bombay HC order directing sale of HDIL assets to repay dues of PMC bank Feb 07, 2020 03:45 PM IST

    SC stays Bombay HC order directing sale of HDIL assets to repay dues of PMC bank

    A bench comprising Chief Justice S A Bobde 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.

  • PMC Bank case: ED's burning of the midnight oil, delayed paperwork stalls exit of Wadhawans from jail Jan 16, 2020 10:36 PM IST

    PMC Bank case: ED's burning of the midnight oil, delayed paperwork stalls exit of Wadhawans from jail

    An appeal filed by the Enforcement Directorate challenged a Bombay High Court order that allowed the shifting of HDIL promoters Rakesh and Sarang Wadhawan, those accused in the Rs 6,800 crore PMC Bank scam case, from Mumbai's Arthur Road prison to their residence.

  • PMC Bank scam: SC to hear today plea against HC order directing shifting of HDIL promoters from jail Jan 16, 2020 11:37 AM IST

    PMC Bank scam: SC to hear today plea against HC order directing shifting of HDIL promoters from jail

    Solicitor General Tushar Mehta mentioned the matter before a bench headed by Chief Justice S A Bobde and said the Punjab and Maharashtra Cooperative (PMC) bank scam involved Rs 7000 crore and the high court had on Wednesday passed a very "unusual order" while hearing a public interest litigation (PIL).

  • PMC Bank scam: Bombay HC sets up panel for sale of HDIL assets Jan 15, 2020 02:05 PM IST

    PMC Bank scam: Bombay HC sets up panel for sale of HDIL assets

    A division bench of Justices R V More and S P Tavade said the committee would be headed by retired high court judge S Radhakrishnan.

  • PMC Bank fiasco: ED probe reveals bank paid the price for preferential treatment to HDIL Dec 30, 2019 10:06 PM IST

    PMC Bank fiasco: ED probe reveals bank paid the price for preferential treatment to HDIL

    HDIL was taking undue liberty even before its IPO was launched in 2007.

  • PMC Bank scam: Anu Wadhawan drew Rs 70 lakh/month pay; unaware of source of funds behind her bungalows Dec 30, 2019 07:15 PM IST

    PMC Bank scam: Anu Wadhawan drew Rs 70 lakh/month pay; unaware of source of funds behind her bungalows

    Wives of Sarang and Rakesh Wadhawan owned a vast number of properties but claim to be unaware of the source of funds for the purchases.

  • HDIL, its promoters have to repay loan to PMC Bank: Bombay HC Dec 19, 2019 04:30 PM IST

    HDIL, its promoters have to repay loan to PMC Bank: Bombay 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 Bombay High Court Dec 18, 2019 07:32 PM IST

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

    Sarang and his father, HDIL promoter Rakesh Wadhawan are currently in judicial custody after the duo were arrested in connection with an alleged scam at PMC Bank.

  • PMC Bank scam: ED files chargesheet against HDIL promoters Dec 16, 2019 03:20 PM IST

    PMC Bank scam: ED files chargesheet against HDIL promoters

    The agency submitted its charge sheet, running into around 7,000 pages, before a special court set up under the Prevention of Money Laundering Act (PMLA).

  • Bulls push Sensex above 41K, but dump small-caps; 48 stocks fell 10-20% in a week Dec 14, 2019 09:17 AM IST

    Bulls push Sensex above 41K, but dump small-caps; 48 stocks fell 10-20% in a week

    The Sensex is just 0.38 percent and the Nifty about 0.6 percent away from hitting fresh record highs.

  • PMC Bank scam: RBI, others move closer to selling HDIL land to return depositor money Nov 18, 2019 06:00 PM IST

    PMC Bank scam: RBI, others move closer to selling HDIL land to return depositor money

    The Reserve Bank of India, Enforcement Directorate, the Economic Offences Wing of the Mumbai Police and administrators of PMC Bank have formed a coordination team to expedite action in the PMC Bank case.

  • Did not know about loans to HDIL, says PMC Bank director Nov 05, 2019 08:28 PM IST

    Did not know about loans to HDIL, says PMC Bank director

    Surjit Singh Narang (71) has filed an anticipatory bail application before additional sessions judge ST Soor.

  • PMC Bank scam: Wadhawan father-son duo get judicial custody Oct 24, 2019 06:42 PM IST

    PMC Bank scam: Wadhawan father-son duo get judicial custody

    The court remanded the duo in judicial custody after the central agency did not seek their further custody.

  • PMC Bank crisis: ED identifies 50 new properties of HDIL for possible attachment Oct 22, 2019 07:00 PM IST

    PMC Bank crisis: ED identifies 50 new properties of HDIL for possible attachment

    The Enforcement Directorate has already attached assets of HDIL that are worth 3,800 crore. These include high end cars, lavish bungalows and jewelry.

  • PMC Bank scam: Court extends HDIL promoters' ED custody till October 24 Oct 22, 2019 03:35 PM IST

    PMC Bank scam: Court extends HDIL promoters' ED custody till October 24

    The Enforcement Directorate (ED) produced Housing Development Infrastructure Ltd's (HDIL) chairman and managing director Rakesh Wadhawan and his son before special Prevention of Money Laundering Act court judge P Rajvaidya, after their remand ended on Tuesday.

  • Scam-hit HDIL appoints Knight Frank to value 40 land assets Oct 18, 2019 07:16 PM IST

    Scam-hit HDIL appoints Knight Frank to value 40 land assets

    While the principal loan on these 40 properties is around Rs 2,200 crore, PMC Bank has been accused of fraudulently extending Rs 4,500 crore to HDIL on the back of security of these properties.

  • Hours before ED custody, Wadhwans request agencies to sell attached assets and repay PMC Bank customers Oct 16, 2019 08:49 PM IST

    Hours before ED custody, Wadhwans request agencies to sell attached assets and repay PMC Bank customers

    According to HDIL, the company has securitised enough assets to the PMC banks as compared to the loan taken. They have securitised 40 assets with clear titles with the bank.

  • Seized, identified assets worth Rs 3,830-cr in PMC Bank case: ED Oct 14, 2019 08:22 PM IST

    Seized, identified assets worth Rs 3,830-cr in PMC Bank case: ED

    The assets, both immovable and movable, will be attached under provisions of the Prevention of Money Laundering Act (PMLA) after valuation, it said.

  • ED attaches Wadhavans' properties worth Rs 3,000 crore; assets seized over 80% of PMC Bank loans Oct 11, 2019 10:31 PM IST

    ED attaches Wadhavans' properties worth Rs 3,000 crore; assets seized over 80% of PMC Bank loans

    Moneycontrol has learnt that properties the ED attached today include about 2,100 acres of land located in Vasai, Virar and Palghar.

  • PMC Bank scam: Custody of Wadhawans & Waryam Singh extended Oct 09, 2019 05:04 PM IST

    PMC Bank scam: Custody of Wadhawans & Waryam Singh extended

    Housing Development Infrastructure Ltd chairman and managing director Rakesh Wadhawan and his son Sarang were arrested on October 3, while former chairman of PMC Bank Waryam Singh was held on October 5.

  • PMC crisis | The buck stops with the management, not auditor Oct 07, 2019 01:18 PM IST

    PMC crisis | The buck stops with the management, not auditor

    Auditors can at best blow the whistle after the horse has bolted, but it is for the management to disburse loans after extreme caution

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