Sell our assets to pay off bank's dues, Wadhawans write to RBI, agencies

Topics PMC Bank | RBI

Rakesh Wadhawan, promoters of Housing Development Infrastructure Ltd, and Waryam Singh, EX-Chairman, PMC Bank being produced in court in Mumbai in connection with the PMC Bank case in Mumbai on Wednesday, 9th Oct, 2019.- KAMLESH PEDNEKAR.
Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.

The Wadhawans, in a letter to the Enforcement Directorate, the Union finance ministry and the RBI, requested that they be allowed to sell off 18 of their attached assets. The letter was released by a spokesperson of the Wadhawans.

Will safeguard depositors’ interests: PMC brass assures RBI guv

Earlier in the day, the  bank’s administrator and members of the advisory committee assured the RBI governor that all efforts would be undertaken to safeguard the interests of the depositors and stakeholders. This comes at a time when a few deaths have been linked to the deposit withdrawal restrictions put on the bank accounts. Administrator J B Bhoria and his team met Governor Shaktikanta Das and other senior officials on Wednesday to apprise them of the position of the bank after relaxation of the withdrawal limit to ~40,000.

“While discussing the various operational issues, it was informed that the bank would expedite the processes of assessment of the realisability of the securities available with the bank 
and the forensic audit presently underway,” according to a statement issued by the bank.

Also, a court in Mumbai extended judicial custody of former chairman of PMC Bank Waryam Singh and HDIL promoters till October 23.

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