Punjab and Maharashtra Cooperative (PMC) will be sold to two airplanes and a yacht of HDIL Group, the main accused in the bank scam, Rakesh Wadhawan and his son. The Enforcement Directorate (ED) agreed on this on Friday.

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According to the media report, the ED is investigating this matter with the Economic Branch (EOW) of the Mumbai Police. So far, about Rs, 3,830 crores of movable assets of HDIL promoters have been confiscated. It includes luxury vehicles as well as a seven-seater speedboat, two airplanes, and a yacht.

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The RBI has appointed an administrator for PMC Bank in this case. He has asked the court to give instructions to sell the properties seized by the investigating agencies. The EOW has already given its consent in this regard.

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