MUMBAI: Enforcement Directorate (ED) raided various premises of HDIL promoters Rakesh Wadhawan and his son Sarang, aka Sunny, on Friday and seized around half a dozen luxury cars. ED officials are also inquiring about their Ferretti 881 yacht for seizure.Late on Thursday, ED registered a money laundering case against Rakesh, who is HDIL’s executive chairman, Sarang, who is the real estate group’s vice-chairman and MD, Waryam Singh, the chairman of Punjab and Maharashtra Cooperative (PMC) Bank and other senior executives of both HDIL — which is short for Housing Development and Infrastructure Ltd — and the PMC Bank.On Friday morning, ED raided five HDIL premises in Mumbai, including the group’s office in Bandra (East) and the Wadhawans’ homes. Sources said the raid will continue for a few days. ED has also identified a couple of big commercial premises around Bandra that HDIL ‘gifted’ a few politicians, including a former minister from the western suburbs. Sources said ED suspects these properties to be proceeds of crime and may attach them in connection with the PMC Bank fraud case.The cars that were seized were found parked on the premises of both office and residential buildings. Sources said hard disks seized by ED at HDIL’s offices for examination have been found containing several “explosive details”.The ED probe is focused on the money trail and diversion of funds to HDIL and its heads and senior executives from PMC Bank. As part of this, ED is examining if the Wadhawans moved money abroad through fictitious transactions. Officials suspect them to have used money taken on loan from the bank to fund their lavish lifestyle and to bribe politicians.Rakesh Wadhawan is believed to be close to several politicians. His real estate business boomed during the Congress-NCP regime through slum redevelopment projects. His son is known for his bonhomie with Bollywood and for throwing big parties for his celebrity friends. He would move around in highend cars, including a Rolls-Royce, Land Rover, Bentley, Hummer, Lamborghini and Porsche.Sources said ED will examine all bulk financial transactions between Wadhawans and their companies with others.HDIL is facing bankruptcy proceedings. Its group companies took Rs 1,306 crore in loans from PMC Bank in violation of RBI norms. As on March 31, the outstanding loan amount against Rakesh Wadhwan was Rs 1,903 crore and his son Rs 129 crore.