PMC Bank Scam: HDIL's Properties to be detached and auctioned, EOW to approach court soon

In a major relief expected for the aggrieved PMC bank depositors, Mumbai police has agreed to release the attached properties of HDIL for auction in connection with the PMC bank scam.

Mumbai police have agreed to the request of RBI appointed administrator to release the properties for auction, a senior police official told ANI.

The official also added that they are ready to do this but would require court's approval for the same, hence the Economic Offences Wing (EOW) will soon approach the concerned court for its approval regarding the same.

RBI appointed administrator JB Bhoria had written to EOW to release the properties of Wadhawans (HDIL) so that those properties can be auctioned.

EOW is likely to approach the court in 2-3 days to get the provisionally attached properties detached.

This can bring huge relief for the depositors as the EOW attached properties of Wadhawans are worth Rs 3500 cr and if auctioned, PMC will be in a state to give the depositors their money back.

-ANI

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