New Delhi: The CBI has accused HDIL promoters Rakesh Wadhawan, Sarang Wadhawan, auditors and other directors in the Rs 200 crore fraud case with Yes Bank. The CBI first registered a case in this case and carried out the raid on the Mumbai home of Rakesh Wadhavan and his son Sarang Wadhawan.
Apart from his house, the raids were conducted by the CBI at 9 different places in Mumbai. It also includes two offices of HDIL.
Explain that Yes Bank had given loan to Mack Star. HDIL has a minority stake in Mack Star, and a fraud of 200 crores was done on this basis. The CBI has said in its investigation that HDIL had taken a loan from Yes Bank. To repay it, Yes Bank gave loans to Mack Star which were transferred to the account of HDIL group companies. However, Sarang Wadhawan has denied the allegations leveled against him.
