The father-son promoters of crisis-hit real estate firm Housing Development and Infrastructure Ltd (HDIL) openly maintained a flamboyant lifestyle as they moved around with armed guards. Accused of not repaying loans up to Rs. 6,500 crore to Punjab and Maharashtra Cooperative (PMC) Bank, Rakesh Kumar Wadhawan and his son Sarang Wadhawan will stay in a police lockup till October 9. The two were often seen in parties hosted by Mumbai's who's who, sources said.
