New Delhi, April 3 : In a latest development in the Patra Chawl scam involving Shiv Sena (UBT) leader Sanjay Raut, the Enforcement Directorate (ED) said on Monday that it has attached two immovable properties worth Rs 31.50 crore belonging to Rakesh Kumar Wadhawan and Sarang Kumar Wadhawan. The case is related to irregularities in the redevelopment of the Patra Chawl project in Goregaon, Mumbai, by Guru Ashish Construction Pvt Ltd. The attached assets are in the form of land held by Rakesh Kumar Wadhawan and Sarang Kumar Wadhawan, directors of Guru Ashish Construction Pvt Ltd, Mumbai and Goa. The ED initiated a PMLA investigation on the basis of an FIR registered by the Economic Offences Wing, Mumbai, against Guru Ashish Construction, Wadhwan brothers and others based on a complaint filed by an executive engineer of Maharashtra Housing and Area Development Authority (MHADA). The ED learnt during the investigation that Guru Ashish Construction was entrusted with the redevelopment of Patra Chawl for rehabilitation of 672 tenants. During the relevant time, Rakesh, Sarang and others were the directors of Guru Ashish Construction. A tripartite agreement was signed between the society, MHADA and Guru Ashish Construction, according to which the developer was to provide the flats to 672 tenants and develop flats for MHADA and thereafter the remaining area was to be sold by the developer. The directors of Guru Ashish Construction misled the MHADA and sold the FSI to nine developers and collected a net amount of Rs 901.79 crore without constructing the rehabportion for 672 displaced tenants and the MHADA portion. Further, Guru Ashish Construction also launched a project named 'Meadows' and collected booking amount of around Rs 138 crore from the flat buyers. The total proceeds of crime generated by the directors of Guru Ashish Construction was around Rs 1,039.79 crore. "We learnt that Rakesh and Sarang after receipt of the proceeds of crime in the bank accounts of HDIL and its group companies, diverted them through bank accounts of HDIL and/or its group companies viz GACPL, Sapphire Land Development Pvt Ltd, Satyam Realtors etc., which finally reached the personal bank accounts of Rakesh and Sarang after multiple layering. "During 2011-2016, crime proceeds of Rs 38.5 crore from the account of Rakesh was utilised for pre-payments of the installments against availed loan of Rs 28.5 crore from India Bulls Housing Finance Ltd. The loan was availed at a floating interest rate of 18.5 per cent for acquiring two plots in Goa worth Rs 31.50 crore during 2011. A payment of Rs 2 crore was also made to the seller of the plots from the personal account of Sarang," said the ED. /IANS