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HDIL News

21 Jul 2020

PMC Bank: HC seeks response of Centre, RBI on release of Rs 5L to depositors

PMC Bank has been put under restrictions by the RBI, following the unearthing of a Rs 4,355-crore scam.

14 Jul 2020

Special PMLA court rejects bail pleas of Wadhawans in PMC Bank scam

PMC bank officials allegedly gave loans to HDIL between 2008 and 2019 despite no repayment of the previous loans. Out of the 44 bank accounts responsible for not paying back the huge loans taken from PMC Bank, 10 belonged to HDIL and the Wadhawans. Out of the 10 bank accounts, Sarang and Rakesh had one personal account each.

16 Jan 2020

SC stays release of HDIL directors from Mumbai jail in PMC Bank scam case

The Supreme Court (SC) on Thursday stayed the release of Housing Development Infrastructure Ltd (HDIL) directors, Rakesh Wadhawan and Sarang Wadhawan, from Mumbai jail in Punjab and Maharashtra Cooperative (PMC) Bank scam case. The duo is accused in the case.

15 Oct 2019

Unable to withdraw money, PMC Bank customer suffers cardiac arrest and dies

The deceased, Sanjay Gulati was under a lot of stress after the Punjab and Maharashtra Cooperative (PMC) Bank scam came to light, according to his family members. He was listed as a large depositor with the bank and had almost Rs 80 lakh in four accounts.

Punjab and Maharashtra Cooperative Bank

14 Oct 2019

PMC Bank scam: Ex-chairman Wariyam Singh owns properties worth several crores

Former chairman of PMC Bank Wariyam Singh, who is currently in police custody, has bought a plot of land worth Rs 2,500 in Mumbai's posh Juhu area using depositor's money.

14 Oct 2019

PMC bank scam: Ex-chairman, HDIL directors sent to custody till Oct 16

A number of PMC bank depositors today staged a protest as a Mumbai court extended custody of three accused in the bank fraud case.

05 Oct 2019

PMC bank scam: Joy Thomas sent to police custody till October 17

A local court here sent Joy Thomas, the suspended Managing Director of the Punjab and Maharashtra Co-operative (PMC) Bank, to police custody till October 17 on Saturday.

04 Oct 2019

PMC bank scam: ED seizes 12 high-end cars of HDIL owners

The Enforcement Directorate (ED) has seized 12 high-end cars which include two Rolls Royce, two Range Rover, and one Bentley, of Housing Development and Infrastructure Limited (HDIL) chairman Rakesh Wadhawan and his son Sarang Wadhawan on Friday following raids at six locations in Mumbai.

03 Oct 2019

HDIL's Sarang Wadhawan, Rakesh Wadhawan arrested in PMC Bank scam

Out of the 44 bank accounts responsible for not paying back the huge loans taken from PMC Bank, 10 belonged to HDIL and the Wadhawans. Out of the 10 bank accounts, Sarang and Rakesh had one personal account each.

30 Sep 2019

Mumbai police's EOW files FIR against officials of HDIL, PMC bank

The Economic Offences Wing (EoW) of Mumbai Police has registered an FIR against senior officials of Housing Development and Infrastructure Ltd (HDIL) and Punjab and Maharashtra Cooperative (PMC) Bank over allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.

17 May 2015

HDIL in talks to sell 200 acre land in Baroda, Hyderabad

Realty firm HDIL is in talks to sell about 200 acres of land parcels in Baroda and Hyderabad as part of its strategy to offload non-core assets to improve cash-flows and cut debt.

15 May 2015

HDIL Q4 net profit down 72% at Rs 31.89cr

Total income rose to Rs 1,083.12 crore in the last fiscal as against Rs 953.64 crore in 2013-14 fiscal.

06 Apr 2015

Realty stocks shine; HDIL surges 24%

Realty stocks attracted strong buying interest in an overall bullish broader market Moday, surging up to 24 percent, a day ahead of the RBI's monetary policy.

23 Mar 2015

HDIL eyes Rs 750 crore from sale of non-core assets

To reduce its debt by nearly 25 percent, Mumbai-based property developer HDIL hopes to monetise all its non-core assets in coming fiscal and expects to garner around Rs 750 crore which will be utilised for paring debt, a top company official said.

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