 "PMC Bank")
Promoters of Housing Development Infrastructure (HDIL) have allegedly diverted Rs 160 crore of loan from Punjab & Maharashtra Cooperative (PMC) Bank to three Delhi-based hotels, according to the probe by the Enforcement Directorate (ED).
The enforcement agency has identified three hotels belonging to Libra Hotels, in which Rakesh Kumar Wadhawan is both a director and a shareholder. Sources said Libra Hotels was a parent firm and had three hotels — Hotel Conclave Executive, Hotel Conclave, and Hotel Conclave Comfort. Libra Hotels is run by Rakesh Wadhawan’s daughter Romy Pawan Mehra and her husband Pawan Mehra. Both are directors of this
