India, Oct. 8 -- A 22-room sprawling seaside farmhouse in Alibag tehsil and a Dassault Falcon-200 business jet are among the assets belonging to Housing Development Infrastructure Limited (HDIL) and its promoters that have been seized by the Enforcement Directorate (ED).

The agency is investigating a possible money laundering angle in the Punjab and Maharashtra Co-operative (PMC) Bank fraud case, where the bank effectively served as a piggybank for the Wadhawans of HDIL. HDIL directors Rakesh Kumar Wadhawan and his son Sarang were arrested by the Mumbai police's Economic Offences Wing on October 3.

The farmhouse, across two and half acres, is on the beachfront in the pristine village of Awas in Alibag tehsil, not far from the bungalow o...