The Enforcement Directorate (ED) has attached assets worth ₹36.66 crore belonging to Rakesh Wadhawan and Sarang Wadhawan of Veena Developers under provisions of the Prevention of Money Laundering Act, 2002, in a bank fraud case.
The fraud case involves Rakesh Wadhawan and Sarang Wadhawan, who are the promoters of Housing Development Infrastructure Ltd. (HDIL), along with other individuals associated with Mack Star Marketing Private Limited.
The ED, in a press release on Saturday, stated that the attached assets are in the form of commercial properties consisting of two office units admeasuring approximately 22,366 square feet in Andheri east’s Kaledonia building as well as shop numbers 1 through 27 which cover a total carpet area of 3,541.79 square feet located in Veena Velocity Phase II in Maharashtra’s Palghar district.
