Mumbai: HDIL  Administrator Accused of Rs 6 Crore Fraud by Rakesh Wadhawan, Complaint Filed

A complaint has been filed against Abhay Manudhane(69) the administrator of HDIL (Housing Development and Infrastructure Limited) at Vinoba Bhave Nagar Police Station in Kurla, Mumbai, alleging him of fraud amounting to ₹6 crore. The complaint was lodged by Rakesh Wadhawan, a suspended director of HDIL. He has alleged that the administrator committed fraud by selling valuable construction materials worth ₹6 crore, stored at the company's Kurla site, as scrap for just ₹18 lakh. 

In this case, Vinoba Bhave Nagar police has also recorded the statement of Abhay Manudhane. In his statement to the police, Manudhane has said that the complaint made against me by Rakesh Wadhawan is baseless.

In his complaint, Wadhawan has called for an investigation into the administrator's suspicious role in this scrap deal. An officer from the Vinoba Bhave Nagar Police Station confirmed that Wadhawan's statement has been recorded, and further investigation is ongoing. However, no FIR has been registered in the case yet.

The complaint further details that in 2007, HDIL had launched an SRA (Slum Rehabilitation Authority) project named "Premier Residence" in Kurla, Mumbai. Under this project, over 18,000 houses were constructed across 30 buildings. By 2011, 70% of the project was completed, but it was stalled due to various reasons. During this period, valuable construction materials were stored in a godown at the Kurla site.

To complete this project, HDIL had taken a loan from Central Bank of India. However, due to the company's failure to repay the loan on time, it was declared insolvent, and the National Company Law Tribunal (NCLT) appointed an administrator.

In this case, Vinoba Bhave Nagar police has also recorded the statement of Abhay Manudhane. In his statement to the police, Manudhane has said that the complaint made against me by Rakesh Wadhawan is baseless, prima facie it appears that he is deliberately trying to harass me by interfering in my work even in pursuance of my appointment as Resolution Professional by the NCLT Court.

Rakesh Wadhawan, who was arrested in connection with the PMC Bank scam in 2019, was released on bail in April this year. It was then that he discovered that the company's valuable construction materials worth approximately ₹6 crore had been sold off as scrap for just ₹18 lakh by the administrator.