PMC scam: 2 HDIL directors arrested; property attached

Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing.

Mumbai police on Thursday arrested two directors of the Housing Development Infrastructure Limited (HDIL) in the PMC Bank scam, a senior official said.

Rakesh Wadhawan and his son Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing (EOW), the official said.

Properties worth Rs 3,500 crore of HDIL have also been frozen by the EOW, he said.

Photograph: Reuters