As HDIL denies wrongdoing, MCA mulls issuing lookout notice: Report

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As HDIL denies wrongdoing, MCA mulls issuing lookout notice: Report

Oct 01, 2019 12:15 IST

As the PMC Bank fraud snowballs, HDIL has said it availed banking facilities from various banks and institutions including PMC Bank. The real estate developer has also said adequate security cover has been created for all banks and HDIL is facing a temporary cash flow issue due to the external environment. Separately, news reports indicate the Corporate Affairs Ministry has issued a request for a look out circular against HDIL's MD Sarang Wadhawan & whole time director Rakesh Wadhawan.