PMC Bank crisis: Bombay HC forms committee to auction HDIL assets

The Wadhawans shall help the committee in valuation of HDIL's encumbered properties, the court said

The Bombay High Court set up a three-member committee on Wednesday for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank.
 

A division bench of Justices R V More and S P Tavade said the committee would be headed by retired high court judge S Radhakrishnan. The court said the retired judge shall select two other members of the committee, and sought a progress report on the next date of hearing on April 30.

The court also directed superintendent of Arthur