PMC Bank invites fresh bids to sell two jets, yacht of Wadhawans

The RBI appointed administrator for Punjab and Maharashtra Co-operative Bank issued a public notice that sought a bid for Dassault Falcon 200 and Challenger 300 and one yacht, earlier this week. Punjab and Maharashtra Co-operative Bank, which are cash strapped, has allowed fresh bids to sell two jet planes that are French manufactured and a yacht to get back the loan that the bank’s erstwhile management lent to the realty firm HDIL in a fraudulent way.

As confirmed by Rakesh Wadhawan and his song Sarang, these assets belong to the HDIL group which is the prime accused in the Rs 6,500-crore scam.

The administrator appointed by RBI issues a public notice which asked for a bid for the above-mentioned items. The Challenger 300, which is one of the items, is lying at the Mumbai airport since July 2012. The operator owes the airport Rs 2 crore in landing and parking charges, as of May 2019.

However, the price of these jets has not been declared yet. The announced notice simply states that the money that is to be deposited is 10 percent of the offer amount. The interested bidders can submit their bids by 17th February 2021. According to a report in Financial Express, the bid opens up on the 20th of February.

The Enforcement Directorate (ED), which is responsible for investigating the scam side by side with the Mumbai Police’s Economic Offences Wing (EOW), has attached all the movable properties of the Wadhawans. The items comprise a seven-seater speedboat, 15 luxury cars, two aircraft, and a yacht that was previously under the ownership of HDIL and its promoters.

Shaktikanta Das, the RBI Governor, has recently said that the PMC bank, is going to assess the realizable value of assets that are mortgaged by the borrowers along with the assets of the bank previously seized by the EOW and ED, with the help of professional valuers.


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