Mumbai, April 6 (UNI) Promoters of Housing Development and Infrastructure Limited (HDIL), Rakesh Wadhawan and Sarang Wadhawan, who were granted bail by the Bombay High Court a day ago for their alleged involvement in the Punjab and Maharashtra Co-operative (PMC) Bank fraud case, could not be released from jail as they face a number of cases.
The bail was granted on Friday in the cases registered against them by the Directorate of Enforcement (ED) and the Economic Offence Wing (EOW) of the Mumbai Police.
Justice SM Modak has directed their release on furnishing sureties of Rs 5 lakh each in both cases.
The HC was hearing a plea filed by the duo seeking bail after the same was refused by the special PMLA (Prevention of Money Laundering Act) court. They were arrested in the case on October 17, 2019.

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