Mumbai police on Thursday arrested two directors of the Housing Development Infrastructure Limited (HDIL) in connection with the PMC Bank crisis, a senior official said.

Rakesh Wadhawan and his son, Sarang Wadhawan, accused of loan default, have been arrested by the Economic Offences Wing (EOW), the official said.

Properties worth Rs 3,500 crore of HDIL have also been frozen by the EOW, he said.