The CBI has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, together with different administrators and auditors within the agency, in an alleged Rs 200-crore mortgage fraud in Sure Financial institution involving Mack Star, officers stated Friday.
After registering the case, the CBI searched the residence of Rakesh Wadhawan and his son Sarang in Mumbai, they stated.
The company additionally carried out searches at 9 different premises in Mumbai, together with two workplaces of HDIL, they stated.
It’s alleged that Sure Financial institution had given mortgage to Mack Star wherein HDIL was a minority shareholder.
It’s alleged the funds transferred to Mack Star by Sure Financial institution as mortgage have been transferred to accounts of HDIL group firms to repay its mortgage to the financial institution, they stated.
Sarang Wadhawan had reportedly denied any wrongdoing within the transactions.
First Printed on Oct 9, 2020 08:10 pm