In a letter to the Enforcement Directorate, the Union finance ministry and the RBI they have requested to be allowed to sell off 18 of their attached assets.The letter was released by a spokesperson of the Wadhawans.

According to the Mumbai Police’s Economic Offences Wing, which first arrested the Wadhawans, the scam at the Punjab & Maharashtra Cooperative Bank is worth Rs 4,355 crore. 

In the letter they said “We state that while denying the allegations raised in FIR no. 86/ 2019…solely with the purpose to work towards the resolution of the matter in the interest of depositors which was also communicated see our earlier letters dated September 30, 2019, October 1, 2019 and October 3, 2019 sent to (ministry of Finance, Reserve bank of India), we ask you to immediately take steps to sell the assets mentioned below… and adjust it towards the principal of the loans taken by the respective companies which own the assets

The assets listed in the letter include ultra-luxury cars such as a Rolls Royce Phantom, Bentley Continental, a BMW 730 LD, as well as a humble Ambassador, owned by Rakesh Wadhawan.

It also lists assets owned by Sarang, Rakesh’s son, including a Falcon 2000 Aircraft, Audi AG, a FerrttiYacht 881, two electric cars, three Quad Bikes (ATV) and speed boat(Dolphin super deluxe 31HT, 7 seater).

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