State of Maharashtra vs. Rakesh Wadhawan & Sarang Wadhawan (and others) — PMC Bank Fraud Case
The Punjab and Maharashtra Cooperative Bank fraud case involves allegations of massive loan defaults and money laundering against HDIL promoters Rakesh and Sarang Wadhawan. Both promoters were granted bail by the Bombay High Court on 9 April 2024. A special PMLA court rejected a plea to release 1,741 acres of attached land on 13 October 2026, and the National Company Law Tribunal ordered the exclusion of Worli development rights from HDIL assets on 16 October 2026.




