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IndiaPosted at: Sep 18 2020 8:17PM


ED attaches 3 hotels in Delhi worth Rs 100 crore in PMC bank fraud case

ED attaches 3 hotels in Delhi worth Rs 100 crore in PMC bank fraud case

New Delhi, Sep 18 (UNI) Enforcement Directorate (ED) on Friday provisionally attached under Prevention of Money Laundering Act, 2002 (PMLA) three hotels in New Delhi worth Rs 100 crore in Punjab and Maharashtra Co-operative (PMC) bank fraud case.
These hotels, namely Hotel Conclave Boutique, Hotel Conclave Comfort and Hotel Conclave Executive, are owned by Libra Realtors, Deewan Realtors, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels and its directors, the probe agency said in a statement.
Investigation has revealed that ‘Proceeds of Crime totaling to Rs 247 Crore were obtained fraudulently by Libra Realtors Pvt Ltd, Deewan Realtors Pvt from PMC Bank in the guise of loans. These loans are part of the Rs 6117 crore owed by Housing Development Infrastructures Ltd (HDIL)group of Companies to PMC Bank.

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