PMC Bank Case: HDIL director Sarang Wadhawan and Rakesh Wadhwan get arrested

In PMC bank case, Housing Development Infrastructure Limited (HDIL) Directors, Sarang Wadhawan and Rakesh Wadhwan, accused of loan default, have been arrested by Economic Offence Wing.
According to a report by media company Moneylife, Lakdawala & Co had audited the PMC Bank for FY2018-19. In its report, it had mentioned about doubtful recovery of assets against which a provision of Rs 26.82 crore has been made by the bank.