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Sell assets to pay PMC bank: HDIL promoters write to agencies

The attached assets include a Ferrtti Yacht 881, a Falcon 2000 Aircraft owned by Privilege Airways Ltd, high-end cars owned by Rakesh and Sarang Wadhawan among other things.

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HDIL directors Rakesh Wadhawan and son Sarang Wadhawan.

HDIL directors Rakesh Wadhawan and son Sarang Wadhawan.

Housing Development and Infrastructure Limited (HDIL) promoters, in a letter on Wednesday, requested the agencies to sell off their attached assets at fair market value, monetise it and begin the process of repaying loans to the Punjab and Maharashtra Co-operative (PMC) bank.

The attached assets include a Ferrtti Yacht 881, a Falcon 2000 Aircraft owned by Privilege Airways Ltd, high-end cars owned by Rakesh and Sarang Wadhawan among other things.

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