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CBI books HDIL promoters in Rs 200-cr YES Bank loan fraud: Officials

The agency also carried out searches at nine other premises in Mumbai, including two offices of HDIL

Topics
CBI | Bank loan fraud | YES Bank

Press Trust of India 

HDIL

The Central Bureau of Investigation (CBI) has booked HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, along with other directors and auditors in the firm, in an alleged Rs 200-crore loan fraud in YES Bank, officials said Friday.

After registering the case, the searched the residence of Rakesh Wadhawan and his son Sarang in Mumbai, they said.

The agency also carried out searches at nine other premises in Mumbai, including two offices of HDIL, they said.

It is alleged that had given loan to a company named Mack Star in which HDIL was a minority shareholder.

It is alleged the funds transferred to Mack Star by as loan were transferred to accounts of HDIL group companies to repay its loan to the bank, they said.

Sarang Wadhawan had reportedly denied any wrongdoing in the transactions.

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First Published: Fri, October 09 2020. 19:26 IST
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