HDIL promoters Rakesh Wadhawan, Sarang Wadhawan booked for fraud by Mumbai EOW

The Economic Offences Wing (EOW) of Mumbai Police on Wednesday registered a First Information Report (FIR) against HDIL promoters Rakesh Wadhawan and Sarang Wadhawan for alleged fraud of Rs 88.47 crore.

They are accused of duping a company by illegally selling office units in a building in suburban Andheri, said a police official here. The FIR was registered under Indian Penal Code sections 409 (criminal breach of trust), 420 (cheating) and 423 (fraudulent execution of deed of transfer), and further probe is on, he said.