The Prevention of Money laundering Act (PMLA) court has extended the custody of Rakesh Wadhawan and Sarang Wadhawan by another three days in relation to the Punjab and Maharashtra Co-operative bank default case.

The Enforcement Directorate's (ED) lawyer said in court that the Directorate has identified fifty new properties of HDIL that could be attached. The ED suspects that these properties may have been bought from proceeds of crime and sold by the company. This suspicion came from the statements of witnesses, which included HDIL officials.

HDIL's lawyer mentioned in court that the actual loan amount was just Rs 1,600-Rs 1,800 crore out of the total amount of Rs 4,355 crore. The remaining amount being notional interest charges. However, the Directorate's lawyer mentioned that total principal amount was Rs 2,500 crore.

The Enforcement Directorate arrested Rakesh Wadhawan and Sarang Wadhawan on October 18 after completing the police custody granted to Mumbai Police's Economic Offence Wing.

HDIL's promoters took loans worth Rs 4,355 crore from PMC Bank, which remains unpaid. The EOW and ED alleged that this could have happened with the help of Joy Thomas and Waryam Singh, then Managing Director and Chairman of PMC Bank respectively, and who are currently in the judicial custody of the Mumbai Police's Economic Offences Wing.

Maharashtra's Chief Minister Devendra Fadnavis hinted at merging PMC Bank with another private or scheduled bank.

Enforcement Directorate has already attached assets of HDIL worth 3,800 crore, which includes high-end cars, lavish bungalows and jewelry.