In recent developments, the Enforcement Directorate (ED) has seized assets worth INR 34.36 crores belonging to the Viva Group in connection with the Punjab and Maharashtra Co-operative Bank (PMC) scam. This happens to be the property of MLA Hitendra Thakur who happens to be quite influential in the Vasai-Virar area.
Meanwhile, earlier on January 23, the ED arrested two people following raids on the premises of a firm promoted by the Maharashtra MLA for alleged illegal diversion of bank funds in connection with the PMC Bank fraud and money laundering case.
Moreover, several industry groups are on the ED's radar for misappropriating loans from PMC Bank. The ED had last month raided the offices of the Viva group and the homes of the Thakur brothers. Now the ED has confiscated property in the Caledonia building in the dark east. The property is built by a company called Mac Star.
According to sources, Mac Star is a subsidiary of Housing Development Infrastructure Limited (HDIL). HDIL is the largest indebted company in the PMC Bank scam. In addition, the ED's investigation revealed that HDIL, Mac Star and Viva Group had collusion. As a result, the property in Andheri has been confiscated.
In the past, the central agency had filed a criminal case of money laundering to probe the alleged loan fraud in PMC Bank in October 2019 against Housing Development Infrastructure Ltd (HDIL), its promoters Rakesh Kumar Wadhawan, his son Sarang Wadhawan, its former chairman Waryam Singh and ex-managing director Joy Thomas.
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