The Enforcement Directorate on Friday attached three hotels belonging to Rakesh Wadhan – the promoter of real-estate firm Housing Development and Infrastructure Limited – and some other people in Delhi, in connection with its investigation into the Punjab and Maharashtra Cooperative Bank fraud. The value of the properties is Rs 100 crore.
“The ED [Enforcement Directorate] attaches three hotels, namely FAB HOTELS, situated at Kailash Colony, East of Kailash and Kalkaji in New Delhi totaling to ₹100 crores owned by Rakesh Wadhawan and others under PMLA [the Prevention of Money Laundering Act] in PMC [Punjab and Maharashtra Cooperative bank],” the investigation agency tweeted.
The agency added that the hotels are owned by Wadhawan, Deewan Realtors and two other firms named Libra Realtors and Libra Hotels, according to PTI.
The Enforcement Directorate said it had…
