The ED discovered this during raids on properties linked to Wadhawans.
The Enforcement Directorate (ED) has discovered that Housing Development and Infrastructure Ltd (HDIL) promoters - Rakesh Wadhawan and his son Sarang Wadhawan - who are accused of defrauding the Punjab Maharashtra Cooperative (PMC) Bank gifted a number of houses to politicians in some posh areas of Maharashtra.
The ED is yet to reveal the identity of these politicians.
The discovery was made during searches on the properties linked to Wadhawans in connection with Rs 4,355 crore PMC Bank fraud case. The central agency started raids on HDIL linked properties on Friday last week after registering an Enforcement Case Investigation Report (ECIR) to probe charges of money laundering in connection with the case.
The probe agency has also found a huge house with 22 rooms in Alibag and the is planning to attach the house. The agency has also received information about a luxury yacht, currently dicked in the Maldives, owned by Wadhawans.
Last week, the ED attached several properties of Wadhawans including a private jet, some high-end luxury cars and jewellery worth Rs 60 crore.
Wadhawans were arrested on Thursday by Economic Offence Wing (EOW) of Mumbai Police and have been sent to police custody till October 9.
A total of 10 out of 44 accounts that led to the bank falling in debt were linked to HDIL. Personal accounts of the Wadhawans were among those 10 accounts.
Mumbai Police has so far arrested four people in connection with the scam, including the Wadhawans, Joy Thomas and Waryam Singh, former Managing Director and chairman of the PMC Bank, respectively. Waryam Singh has been sent to police custody till October 9 while Mr Thomas is in custody till October 17.
According to the police, PMC bank officials gave loans to HDIL between 2008 and 2019 despite no repayment of the previous loans. The FIR was registered under various sections of the Indian Penal Code (IPC), including criminal breach of trust, cheating, and forgery.
Thomas had on September 28 admitted that the bank did not report the financial exposure to the Reserve Bank of India (RBI) for over six years.
PMC Bank account holders have been allowed to withdraw Rs 25,000 from the bank in the next six months. The curb on withdrawal has been imposed by the RBI after the fraud came to light. The apex bank had initially allowed the withdrawal of only Rs 1,000 within six months which was later increased to Rs. 10,000 and then hiked to Rs 25,000 on October 3.
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