Enforcement Directorate on Friday temporarily attached under Prevention of Money Laundering Act, 2002 (PMLA) three immovable properties in New Delhi. The market value of these hotels is around ₹100 crore.
Investigation has revealed that proceeds of crime of ₹247 crore were obtained fraudulently by Libra Realtors, Deewan Realtors from PMC Bank in the guise of loans, said the probe agency.
These loans are part of the ₹6,117 crore owed by HDIL group of companies to PMC Bank.
The hotels attached are Hotel Conclave Boutique now known as FAB HOTELS A-20, Kailash Colony, New Delhi. Hotel Conclave Comfort now known as FAB HOTELS D-150, East of Kailash, New Delhi and Hotel Conclave Executive now known as FAB HOTELS C-22, Kalkaji, New Delhi.
Authorities started investigating Punjab and Maharashtra Co-operative Bank (PMC) for fraud last year and the Reserve Bank of India (RBI) took control of it after detecting financial irregularities.
Thousands of PMC depositors have been unable to access their deposits for a year as the RBI has capped withdrawals at ₹1 lakh.