The Enforcement Directorate on Thursday sealed an about five-acre bungalow of a HDIL promoter near Mumbai in connection with its money laundering probe in the Punjab and Maharashtra Co-operative (PMC) bank case, officials said.
They said the property is in Vasai suburb under Palghar district of Maharashtra. It belongs to a promoter of the Housing Development Infrastructure Limited (HDIL) .
The ED is probing alleged financial irregularities under the Prevention of Money Laundering Act (PMLA) after it filed a criminal case recently. It had seized Rs 60 crore worth jewellery, a business jet, 15 cars, two fixed deposits worth Rs 1.5 crore and Rs 10 crore in connection with the case.
The ED case is based on an FIR filed by the Economic Offences Wing of Mumbai police. The agency and Mumbai police case, based on a complaint by an RBI-appointed administrator, is against the former bank management and promoters of HDIL. The complaint was filed last week on charges of forgery, cheating and criminal conspiracy against the officials.
FM did not assuage PMC Bank customers' anxiety: Congress
The Congress on Thursday termed Finance Minister Nirmala Sitharaman's statement on the PMC Bank scam as a "bail-out" for loan defaulters and not for depositors.
Sitharaman, who faced angry depositors of Punjab & Maharashtra Cooperative Bank here before a press conference on Thursday, said a committee will be set up to examine if the laws governing the sector need changes.
"There was no (announcement of) merger or revival plan. Whatever she spoke was mere lip service and eyewash," said Mumbai Congress vice president Charan Singh Sapra.
"Her statement is a bail-out package for defaulters and not for depositors," he said.
"She did not assuage the anxiety of 16 lakh bank customers that their money was safe," Sapra added.
"If in two nights the government can axe thousands of trees in Aarey Colony, can't the government find a solution to the PMC crisis in 17 days? Today, the minister announces setting up of a committee and promises to speak to RBI governor," he said.
PMC Bank is facing a crisis after an alleged Rs 4,500 crore scam came to light. It is alleged that its top officials hid loan defaults by realty group HDIL, which accounted for nearly 70 per cent of its total advances.
