An important development has emerged in the PMC bank scam. HDIL will repay the loan of PMC Bank by selling 40 of its properties. HDIL has appointed an international agency to find out the value of these properties. This agency will assess the value of these properties in the market, after which HDIL will sell them and pay their debt in PMC.
According to the report, HDIL has hired a company named Knight Frank. This company is an internationally renowned company and its job is to find the right price for a large property. These 40 assets are currently with PMC Bank as a security. In return for taking a loan from PMC Bank, HDIL had kept these 40 properties with PMC Bank as security.
Evaluation Report in 7 to 10 Days
Knight Frank will submit its valuation report to HDIL in the next 7 to 10 days. After this, HDIL will inform the PMC Bank that it wants to repay its loan by selling these properties. Explain that HDIL promoters Rakesh and Sarang Wadhawan are currently in the custody of the Enforcement Directorate. In their absence, other officials of the company have decided to evaluate the properties. HDIL promoters Rakesh and Sarang Wadhawan's case are being advocated by senior lawyer Amit Desai. Advocate Amit Desai had opposed sending Rakesh and Sarang Wadhawan to the Enforcement Directorate's custody, but the court did not accept Amit Desai's plea and sent him to ED custody.
HDIL has Enough assets to repay debt
Sources reveal that the original outstanding balance of HDIL with PMC Bank is Rs 2200 crore, but this figure including Sood becomes Rs 4500 crore. The source also said that if these 40 properties of HDIL are sold, then enough money will be collected to pay the debt.
These 40 properties of HDIL are present in Vasai, Thame, Navi Mumbai. In lieu of these assets, HDIL took a loan from PMC Bank between 2010 and 2018. A source associated with HDIL said that at present, only 18 properties are worth about Rs 3000 crore, while 22 other properties are worth about Rs 4000 crore, although their real value will be known only after evaluation.
HDIL also claims that the company's chairman Sarang Wadhawan had told PMC Bank before his arrest that his group was ready to repay the loan by selling the property. Let us know that the pressure on the government, PMC Bank and HDIL is increasing due to the news of the continuous death of PMC account holders. There is pressure on PMC bank to repay the deposits of customers.