Agencies report, a court here has permitted the RBI-appointed administrator for the PMC Bank to sell two airplanes and a yacht belonging to HDIL group firms owned by Rakesh Wadhawan and his son Sarang, the accused in the Rs 4,355-crore scam at the cooperative
lender.
The administrator had moved the court, seeking its direction to sell the movable assets attached by the probe agencies in connection with the PMC scam.
The administrator the court that due to the restrictions, the depositors cannot withdraw more than the amount prescribed by the apex bank.
Accepting the argument, the court allowed the sale of two aircraft and one yacht.
The Enforcement Directorate (ED), which is probing the scam along with the EOW, has attached the movable properties of the Wadhawans.
