<p>HDIL chairman and managing director Rakesh Wadhawan and his son Sarang were on Friday sent to police custody till October 9 in the Punjab Maharashtra Cooperative (PMC) Bank scam, an official said.</p>.<p>They were arrested by the special investigation team (SIT) of the Economic Offences Wing (EOW) of Mumbai Police on Thursday and produced before a local court on Friday.</p>.<p><strong>Also read — <a href="https://www.deccanherald.com/national/directors-of-pmcs-major-defaulter-firm-hdil-arrested-765999.html">Directors of PMC's major defaulter firm HDIL arrested</a></strong></p>.<p>EOW had registered an FIR on Monday against senior officials of HDIL and the PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.</p>.<p>Property of Rs 3,500 crore belonging to the company was seized by the EOW during the investigation, he said.</p>.<p>The Enforcement Directorate (ED) has also initiated investigation by registering a case of money laundering, another official said.</p>.<p>ED officials raided six places in the city and suburbs and collected some important documents related to the case, he said.</p>
<p>HDIL chairman and managing director Rakesh Wadhawan and his son Sarang were on Friday sent to police custody till October 9 in the Punjab Maharashtra Cooperative (PMC) Bank scam, an official said.</p>.<p>They were arrested by the special investigation team (SIT) of the Economic Offences Wing (EOW) of Mumbai Police on Thursday and produced before a local court on Friday.</p>.<p><strong>Also read — <a href="https://www.deccanherald.com/national/directors-of-pmcs-major-defaulter-firm-hdil-arrested-765999.html">Directors of PMC's major defaulter firm HDIL arrested</a></strong></p>.<p>EOW had registered an FIR on Monday against senior officials of HDIL and the PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.</p>.<p>Property of Rs 3,500 crore belonging to the company was seized by the EOW during the investigation, he said.</p>.<p>The Enforcement Directorate (ED) has also initiated investigation by registering a case of money laundering, another official said.</p>.<p>ED officials raided six places in the city and suburbs and collected some important documents related to the case, he said.</p>