PMC Bank scam: Arrested auditors to be produced before court today
5 years, 1 month ago

PMC Bank scam: Arrested auditors to be produced before court today

Live Mint  

Mumbai: The economic offence wing of Mumbai Police will on Tuesday produce two auditors who were arrested for deliberately overlooking irregularities in Punjab and Maharashtra Cooperative Bank before a local court. The police arrested the auditors identified as Jayesh Sanghani and Ketan Lakdawala as a part of its investigation into ₹4,355 crore PMC Bank scam. It asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits after the alleged scam came to light. The police have also arrested promoters of Housing Development and Infrastructure Limited and several PMC officials in connection with the scam.

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History of this topic

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”
3 months, 3 weeks ago

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”

The Hindu  

The Enforcement Directorate has arrested four accused in a case related to cyber fraud of ₹2.60 crore by a person posing as a Central Bureau of Investigation official, who was part of a network involving “Chinese scammers”. “All the four accused were involved in incorporation of shell companies and opening of bank accounts, through which Proceeds of Crime generated from …

Telangana: Tollywood Producer, 2 Others Arrested
5 months, 1 week ago

Telangana: Tollywood Producer, 2 Others Arrested

Deccan Chronicle  

Hyderabad: The Economic Offenses Wing of Cyberabad arrested three persons including a Tollywood film producer for cheating people of over Rs.40 crore, the Cyberabad police said. The accused have been identified as K. Ramasamy, bank manager at IndusInd Bank, Shamshabad Branch, S. Rajesh, a service delivery manager at the bank, and Shaik Basheed, a businessman and a Tollywood film producer. …

Mumbai covid centres scam: Two accused, both close aide of Sanjay Raut, arrested by EOW
1 year, 10 months ago

Mumbai covid centres scam: Two accused, both close aide of Sanjay Raut, arrested by EOW

India TV News  

Mumbai Covid Centre Scam: The Economic Offences Wing on Tuesday arrested two people namely Rajiv Nandakumar Salunke and Bala Ramchandra Kadam, both of them are close aide of Sanjay Raut, in the jumbo Covid centres scam case in Mumbai. Last month, the Brihanmumbai Municipal Corporation called Rs 100 crore scam allegation in setting up of jumbo Covid-19 centres as 'baseless'. …

Two arrested by Delhi Police for defrauding two banks
2 years, 7 months ago

Two arrested by Delhi Police for defrauding two banks

India Today  

The Economic Offences Wing of the Delhi Police arrested two men in connection with a bank fraud case. The two arrested have been identified as Amarjeet Singh and Om Prakash Singh from Delhi. The case was registered after a complaint was filed by Edelweiss Housing Finance Ltd saying that they had availed a loan of Rs 2.5 crore to Om …

Delhi: Three arrested for duping two companies worth Rs 13 crore
2 years, 10 months ago

Delhi: Three arrested for duping two companies worth Rs 13 crore

India Today  

The Economic Offences Wing of Delhi Police arrested the manager and directors of Genius Minds Private Limited for duping two Non-Banking Financial Companies worth Rs 13 crore. Agarwal colluded with the directors of the company, Aditya Agarwal and Abhishek Agarwal, and raised fake and forged invoices in the name of approved debtors. Fake bills raised Oberoi alleged that the directors …

ED arrests two in PMC Bank fraud case
3 years, 11 months ago

ED arrests two in PMC Bank fraud case

The Hindu  

The Enforcement Directorate has arrested two people following raids on the premises of a firm promoted by a Maharashtra MLA for alleged “illegal diversion of bank funds” in the Rs 4,300-crore PMC Bank fraud and money laundering case, official sources said on Saturday. On Friday, the agency searched five residential and business premises linked to the Viva Group, promoted by …

PMC Bank case: ED arrests 2 top officials of Viva Home Finance Ltd controlled by underworld don Bhai Thakur
3 years, 11 months ago

PMC Bank case: ED arrests 2 top officials of Viva Home Finance Ltd controlled by underworld don Bhai Thakur

India Today  

Hours after the Enforcement Directorate is conducted raids at multiple locations of Directors of the Viva Group in Vasai -Virar, Palghar in connection with the PMC bank scam case, the agency has arrested two top officials of Viva Home Finance Ltd. The ED on Friday conducted raids at five locations in office premises, residences of Directors of the Viva Group …

Fraud-hit PMC Banks Approaches Banks Over Possible Merger, Reveals Report
4 years, 3 months ago

Fraud-hit PMC Banks Approaches Banks Over Possible Merger, Reveals Report

News 18  

India’s fraud-hit PMC Bank has approached other banks over a possible merger even as its efforts to recover funds from a big borrower have been disrupted by the coronavirus pandemic, the bank’s administrator said in a court filing seen by Reuters. PMC has “tried to engage with the major banks of the country to request for a merger”, the bank’s …

Fraud-hit PMC asked other major banks for merger: Bank tells Delhi HC
4 years, 3 months ago

Fraud-hit PMC asked other major banks for merger: Bank tells Delhi HC

India Today  

India’s fraud-hit PMC Bank has approached other banks over a possible merger even as its efforts to recover funds from a big borrower have been disrupted by the coronavirus pandemic, the bank’s administrator said in a court filing seen by Reuters. PMC has “tried to engage with the major banks of the country to request for a merger”, the bank’s …

Fraudsters posing as bank officers dupe Rs 11 crore from businessman, 2 held from Delhi
4 years, 11 months ago

Fraudsters posing as bank officers dupe Rs 11 crore from businessman, 2 held from Delhi

India TV News  

A father-son duo from Delhi was arrested by the Ahmedabad police for allegedly extracting Rs 11.06 crore from a city businessman by posing as bank officers and luring him into investing in various schemes and insurance products over three years, said officials on Thursday. In his complaint, apparel trader Prataprai Avtani had alleged he was duped to the tune of …

PMC Bank scam: 12,000-page second charge sheet filed
4 years, 11 months ago

PMC Bank scam: 12,000-page second charge sheet filed

The Hindu  

The Economic Offences Wing of the Mumbai Police on Wednesday filed a second charge sheet into the ₹6,670 crore Punjab and Maharashtra Cooperative Bank fraud case. The charge sheet, which goes beyond 12,000 pages, names seven former directors and auditors, including Rajneet Singh, the son of former Bharatiya Janata Party MLA Sardar Tara Singh. The EOW in its first charge …

PMC Bank scam: Depositors detained for holding protest at HDIL promoters' residence
4 years, 11 months ago

PMC Bank scam: Depositors detained for holding protest at HDIL promoters' residence

India TV News  

Around a dozen depositors of the scam-hit Punjab and Maharashtra Cooperative Bank were detained on Sunday for allegedly trying to stage a protest outside the Khar residence of HDIL promoters Rakesh Wadhawan and his son Sarang, who are accused in the bank fraud case, police said. "Around 12 depositors of the PMC Bank were detained as they tried to hold …

PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence
4 years, 11 months ago

PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence

India TV News  

The Supreme Court Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative Bank scam, from Mumbai's Arthur Road Jail to their residence. The law officer said the other aspects of the high court order such as sale of assets of the accused promoters …

PMC Bank scam: SC stays Bombay High Court order allowing shifting of HDIL promoters from jail to residence
4 years, 11 months ago

PMC Bank scam: SC stays Bombay High Court order allowing shifting of HDIL promoters from jail to residence

Firstpost  

New Delhi: The Supreme Court on Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative Bank scam case, from Mumbai’s Arthur Road Jail to their residence. ED says need continued custody of HDIL promoters, relief given by HC will hurt the probe pic.twitter.com/ilVSm9DXAO …

PMC Bank scam: EOW may file its first chargesheet against promoters of HDIL today; Wadhawans booked under PMLA in over Rs 6,300 cr fraud
5 years ago

PMC Bank scam: EOW may file its first chargesheet against promoters of HDIL today; Wadhawans booked under PMLA in over Rs 6,300 cr fraud

Firstpost  

The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on 23 September for six months due to massive under-reporting of dud loans After the Enforcement Directorate filed a chargesheet on 16 December against Housing Development Infrastructure Ltd promoters Rakesh Wadhawan and Sarang Wadhawan in connection with the multi-crore Punjab and Maharashtra Cooperative Bank scam …

PMC Bank Crisis: Bombay HC Dismisses Petitions Challenging Withdrawal Restrictions Imposed By RBI
5 years, 1 month ago

PMC Bank Crisis: Bombay HC Dismisses Petitions Challenging Withdrawal Restrictions Imposed By RBI

Live Law  

In a major setback for the aggrieved depositors of Punjab and Maharashtra Co-operative bank, the Bombay High Court on Thursday dismissed a batch of petitions filed by depositors challenging Reserve Bank of India's decision to impose limits on withdrawal of funds from the crisis hit bank. However, state minister Jayant Patil today told reporters that State government has suggested merger …

PMC Bank crisis: HC junks PMC Bank depositors' plea for lifting of restrictions
5 years, 1 month ago

PMC Bank crisis: HC junks PMC Bank depositors' plea for lifting of restrictions

India TV News  

The Bombay High Court on Thursday dismissed pleas of the depositors of the crisis-hit Punjab and Maharashtra Cooperative Bank, seeking lifting of restrictions imposed by the Reserve Bank of India on cash withdrawals. On September 23, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. The Mumbai police's Economic Offences Wing, which …

PMC Bank scam: Nearly 78% depositors can withdraw entire deposits, says govt; efforts underway to repay customers money
5 years, 1 month ago

PMC Bank scam: Nearly 78% depositors can withdraw entire deposits, says govt; efforts underway to repay customers money

Firstpost  

Sitharaman also said in Lok Sabha that in case of medical emergencies, marriages and other crisis situations, a depositor of PMC Bank can withdraw up to Rs 1 lakh by invoking the ‘hardship provisions’ of RBI. New Delhi: Nearly 78 percent depositors of the scam-hit PMC Bank have been allowed to withdraw their entire deposits even though the ceiling of …

PMC Bank scam: EOW conducts search at Rajneet Singh's flat
5 years, 1 month ago

PMC Bank scam: EOW conducts search at Rajneet Singh's flat

India TV News  

A day after Rajneet Singh, son of former BJP MLA Sardar Tara Singh, was arrested in connection with the Punjab and Maharashtra Cooperative Bank scam, the Economic Offences Wing of the city police on Sunday conducted a search at his residence here, an official said. Before the search, Rajneet Singh, who is a director of the scam-hit bank, was produced …

PMC bank scam: Rajneet Singh, former director and son of ex-BJP MLA Sardar Tara Singh, arrested by Mumbai Police
5 years, 1 month ago

PMC bank scam: Rajneet Singh, former director and son of ex-BJP MLA Sardar Tara Singh, arrested by Mumbai Police

Firstpost  

Besides being a director, Rajneet Singh is a member of the loan recovery committee of the Punjab and Maharashtra Cooperative Bank Mumbai: One of the directors of the scam-hit Punjab and Maharashtra Cooperative Bank, Rajneet Singh, son of ex-Bharatiya Janata Party MLA Sardar Tara Singh, was on Saturday arrested by the Mumbai Police’s Economic Offences Wing, an official said. Rajneet …

Auditors appointed at Wadhawans’ behest: Economic Offences Wing of Mumbai Police
5 years, 1 month ago

Auditors appointed at Wadhawans’ behest: Economic Offences Wing of Mumbai Police

The Hindu  

The Economic Offences Wing of the Mumbai Police on Tuesday said the two auditors of Punjab and Maharashtra Cooperative Bank were appointed at the behest of Housing Development and Infrastructure Limited promoters Rakesh and Sarang Wadhawan, establishing a conflict of interest and a larger conspiracy. The officer said there was also prima facie information, suggesting Mr. Sanghani and Mr. Lakdawala …

PMC Bank: two auditors held
5 years, 1 month ago

PMC Bank: two auditors held

The Hindu  

The Economic Offences Wing of the Mumbai Police on Monday arrested two independent auditors in connection with its investigation into the multi-crore Punjab and Maharashtra Cooperative Bank fraud. The police said both the accused were hired by the bank to conduct independent audits of the bank’s finances. Many of the investors wanted to know why the auditors had not been …

PMC Bank scam: Economic Offences Wing arrests two auditors
5 years, 1 month ago

PMC Bank scam: Economic Offences Wing arrests two auditors

India TV News  

Two auditors were arrested on Monday night in connection with the Rs 4,355-crore alleged Punjab and Maharashtra Cooperative Bank scam by the Economic Offences Wing of the Mumbai Police, an official said. The arrested duo, Jayesh Sanghani and Ketan Lakdawala, had served as statutory auditors when the scam was committed and suspected to have played a key role in covering …

PMC Bank crisis: Depositors of scam-hit bank meet Mumbai police chief
5 years, 1 month ago

PMC Bank crisis: Depositors of scam-hit bank meet Mumbai police chief

India TV News  

Around 400 depositors of fraud-hit Punjab & Maharashtra Co-operative Bank on Monday met Mumbai Police Commissioner Sanjay Barve and briefed him about problems being faced by them after the RBI put certain restrictions on the troubled lender. According to Harbans Singh, one of the PMC Bank depositors who met Barve, the meeting lasted for around two hours. "In the meeting, …

EOW arrests two auditors in connection with PMC Bank scam
5 years, 1 month ago

EOW arrests two auditors in connection with PMC Bank scam

Live Mint  

Mumbai: The Mumbai Police’s Economic Offences Wing on Monday late evening arrested two auditors in connection with the ₹4,355.43-crore Punjab and Maharashtra Co-operative Bank Ltd fraud. In a press statement, the Mumbai police also said that during the course of investigations the auditors association with the real estate firm Housing Development and Infrastructure Ltd or HDIL had also come to …

PMC Bank scam: RBI governor Shaktikanta Das says closely monitoring situation, forensic audit underway
5 years, 2 months ago

PMC Bank scam: RBI governor Shaktikanta Das says closely monitoring situation, forensic audit underway

Firstpost  

New Delhi: The Reserve Bank is closely monitoring the situation at scam-hit PMC Bank and a forensic audit is underway, Governor Shaktikanta Das said on Thursday, amid persisting uncertainty over depositors’ funds. Besides, he said an agency has been appointed to assess the realisable value of the bank’s assets spread across various states for monetisation. Punjab & Maharashtra Cooperative Bank, …

PMC Bank scam: HDIL promoters diverted Rs 160-cr loan to three Delhi-based hotels, reveals ED probe
5 years, 2 months ago

PMC Bank scam: HDIL promoters diverted Rs 160-cr loan to three Delhi-based hotels, reveals ED probe

Firstpost  

The EOW has arrested five persons in the Rs 4,355-crore PMC Bank scam, including HDIL’s Wadhawans and the bank’s former chairman Waryam Singh and former managing director Joy Thomas. Corroborating the previous allegations of fund diversion, the Enforcement Directorate’s investigation reportedly found that the promoters of Housing Development Infrastructure, Rakesh Wadhawan and Sarang Wadhawan, allegedly diverted loan worth Rs 160 …

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November
5 years, 2 months ago

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November

Firstpost  

The Bombay High Court on Monday sought to know from the Reserve Bank of India what steps it has taken to protect the interests of depositors of the crisis-hit Punjab and Maharashtra Cooperative Bank Mumbai: The Bombay High Court on Monday sought to know from the Reserve Bank of India what steps it has taken to protect the interests of …

PMC Bank scam: Court extends HDIL promoters Rakesh Wadhawan, son Sarang's ED custody till 24 October
5 years, 2 months ago

PMC Bank scam: Court extends HDIL promoters Rakesh Wadhawan, son Sarang's ED custody till 24 October

Firstpost  

A Mumbai court on Tuesday extended the ED custody of HDIL promoters Rakesh Wadhawan and his son Sarang Wadhawan, arrested in connection with Rs 4,355 crore Punjab and Maharashtra Cooperative Bank scam, till 24 October A Mumbai court on Tuesday extended the ED custody of HDIL promoters Rakesh Wadhawan and his son Sarang Wadhawan, arrested in connection with Rs 4,355 …

PMC Bank scam: Mumbai Police to investigate how RBI's forensic audit report missed irregularities; 'no auditors will be spared'
5 years, 2 months ago

PMC Bank scam: Mumbai Police to investigate how RBI's forensic audit report missed irregularities; 'no auditors will be spared'

Firstpost  

Mumbai Police commissioner Sanjay Barve said this after meeting a group of PMC Bank depositors met him during the day at his office. Mumbai: The Mumbai Police will investigate how the Reserve Bank of India audit missed various irregularities in the PMC Bank transactions, the metropolis police chief said on Wednesday. While interacting with the depositors, Barve said the police …

Former Director of PMC Bank S Surjit Arora arrested
5 years, 2 months ago

Former Director of PMC Bank S Surjit Arora arrested

India TV News  

Former Director of PMC Bank S Surjit Arora has been arrested by Economic Offences Wing of Mumbai Police. Arora was a director of the PMC Bank and was also on its loan committee, he said. The EOW has already arrested promoters of HDIL group Rakesh and Sarang Wadhawan, former PMC Bank chairman Waryam Singh and former managing director Joy Thomas …

PMC Bank scam: EOW summons former director for interrogation, seeks details on lender's loan disbursement process
5 years, 2 months ago

PMC Bank scam: EOW summons former director for interrogation, seeks details on lender's loan disbursement process

Firstpost  

Arora was a director of the PMC Bank and was also on its loan committee, an official said. Mumbai: The Economic Offences Wing of Mumbai Police on Wednesday called Surjit Singh Arora, one of the former directors of the scam-hit Punjab & Maharashtra Cooperative Bank, for questioning. “We are trying to get certain details about the bank’s loan disbursement process,” …

PMC Bank scam: Will not spare anyone, Mumbai Police chief tells protesters
5 years, 2 months ago

PMC Bank scam: Will not spare anyone, Mumbai Police chief tells protesters

India Today  

Mumbai Police Commissioner Sanjay Barve has assured the depositors affected by the Punjab and Maharashtra Cooperative Bank scam that the police will not spare anyone found guilty in the case. Barve said the police will try to get the money back and complete investigation in the PMC Bank case in 90 days. Barve said he was also a banker while …

PMC Bank Crisis: Former chairman, HDIL directors sent to police custody till October 16
5 years, 2 months ago

PMC Bank Crisis: Former chairman, HDIL directors sent to police custody till October 16

India TV News  

Mumbai's Esplanade court on Monday extended the police custody of former PMC Bank chairman and Housing Development and Infrastructure Limited directors, till October 16. HDIL directors Rakesh Wadhawan and Sarang Wadhwan's police custody was extended again along with former PMC Bank chairman Waryam Singh by Mumbai's Esplanade court. The defence counsel also mentioned that a list of all the properties …

Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors
5 years, 2 months ago

Lesson from PMC Bank scam: Forensic, active supervision needed; RBI and govt must work to help whistleblowers, protect depositors

Firstpost  

The PMC Bank episode compares in scale with the Rs 7,855-crore Satyam Computer Services scandal, which has been dubbed as India’s biggest accounting fraud. Industrialist-banker nexus The PMC Bank episode compares in scale with the Rs 7,855-crore Satyam Computer Services scandal, which has been dubbed as India’s biggest accounting fraud. Besides PMC Bank, 12 other co-operative banks are also under …

PMC bank case: ED seizes bungalow near Mumbai
5 years, 2 months ago

PMC bank case: ED seizes bungalow near Mumbai

India TV News  

The Enforcement Directorate on Thursday sealed an about 5-acre bungalow of a HDIL promoter near Mumbai in connection with its money laundering probe in the Punjab and Maharashtra Co-operative bank case, officials said. The ED is probing alleged financial irregularities under the Prevention of Money Laundering Act after it filed a criminal case recently. It had seized Rs 60 crore …

PMC Bank scam: Police custody of former chairman Waryam Singh, Wadhawans of HDIL extended till 14 October
5 years, 3 months ago

PMC Bank scam: Police custody of former chairman Waryam Singh, Wadhawans of HDIL extended till 14 October

Firstpost  

A court on Wednesday extended till October 14 the police custody of a former chairman of the Punjab and Maharashtra Cooperative Bank and two directors of HDIL, arrested in connection with the alleged Rs 4,355 crore scam at the bank Mumbai: A court here on Wednesday extended till 14 October the police custody of a former chairman of the Punjab …

PMC Bank case: Former chairman, HDIL directors sent to police custody till 14th October
5 years, 3 months ago

PMC Bank case: Former chairman, HDIL directors sent to police custody till 14th October

Live Mint  

Mumbai: Mumbai's Esplanade Court has sent former chairman of the Punjab and Maharashtra Co-operative Bank, Waryam Singh and Housing Development Infrastructure Limited directors, Sarang Wadhawan and Rakesh Wadhwan, to police custody till October 14. Scores of PMC Bank account holders on Wednesday staged a protest in front of the Esplanade Court in Mumbai. We want them to get jail and …

PMC Bank scam: Shares of HDIL hit lower circuit, fall 4.73% on reports of EOW to include auditors in probe
5 years, 3 months ago

PMC Bank scam: Shares of HDIL hit lower circuit, fall 4.73% on reports of EOW to include auditors in probe

Firstpost  

Shares of HDIL extended its losses on Wednesday as it fell nearly 5 percent and hit its lower circuit limit after reports that Mumbai Police’s Economic Offences Wing may include the auditors of the bankrupt company in the ongoing probe of PMC Bank scam New Delhi: Shares of HDIL extended its losses on Wednesday as it fell nearly 5 percent …

PMC Bank fraud: Police likely to probe HDIL auditors soon
5 years, 3 months ago

PMC Bank fraud: Police likely to probe HDIL auditors soon

India Today  

The Economic Offences Wing of the Mumbai Police is likely to investigate auditors of defunct Housing Development and Infrastructure Limited in connection with the Rs 4,300 crore Punjab and Maharashtra Co-operative Bank Ltd fraud. Auditors of PMC Bank will also be scrutinised as they did not classify loans to HDIL as non-performing assets despite multiple payment defaults on the defunct …

EOW likely to extend probe in PMC Bank to HDIL’s auditors
5 years, 3 months ago

EOW likely to extend probe in PMC Bank to HDIL’s auditors

Live Mint  

Mumbai: The Mumbai Police’s Economic Offences Wing may expand its probe into the ₹4,355.43 crore Punjab and Maharashtra Co-operative Bank Ltd fraud to include auditors of the bankrupt Housing Development and Infrastructure Ltd, which has been at the centre of the scam, said two people aware of the matter. PMC Bank’s cash reserves stand at around ₹1,000 crore, well short …

PMC Bank scam: Ex-chairman Waryam Singh sent to police custody till Oct 9
5 years, 3 months ago

PMC Bank scam: Ex-chairman Waryam Singh sent to police custody till Oct 9

India Today  

Ex-Chairman of Punjab and Maharashtra Cooperative Bank, Waryam Singh has been sent to police custody till October 9. Waryam Singh, 68, missing since the irregularities in the PMC Bank tumbled out two weeks ago, was traced to a location in Mahim where he was in hiding and picked up on Saturday, a Mumbai Police spokesperson said. As he was presented …

Fourth arrest in PMC Bank case, ex-chairman Waryam Singh held
5 years, 3 months ago

Fourth arrest in PMC Bank case, ex-chairman Waryam Singh held

Live Mint  

Mumbai: Waryam Singh, former chairman of Punjab and Maharashtra Cooperative Bank, was arrested by the Economic Offences Wing of Mumbai Police on Saturday in connection with the alleged ₹4,355 crore scam at the bank. The EOW has already arrested former managing director of the bank Joy Thomas, and promoters of HDIL group Rakesh and Sarang Wadhawan in the case. Waryam …

PMC Bank Chairman Waryam Singh arrested by Mumbai Police
5 years, 3 months ago

PMC Bank Chairman Waryam Singh arrested by Mumbai Police

India TV News  

The absconding Chairman of the crisis-hit Punjab & Maharashtra Cooperative Bank Ltd, S. Waryam Singh, has been nabbed by the Economic Offences Wing of Mumbai Police, an official said here on Saturday. Waryam Singh, 68, who was missing since the irregularities in the PMC Bank tumbled out two weeks ago, was traced to a location in Mahim where he was …

PMC Bank's ex-MD Joy Thomas being made scapegoat in fraud case, claims his lawyer
5 years, 3 months ago

PMC Bank's ex-MD Joy Thomas being made scapegoat in fraud case, claims his lawyer

India Today  

Former Managing Director of Punjab and Maharashtra Cooperative Bank, Joy Thomas, arrested in connection with the alleged Rs 4,355 crore scam at the bank, was on Saturday remanded in police custody till October 17. His lawyer Rakesh Singh argued that Joy Thomas was just an employee of the bank and not a decision-maker and was being made a scapegoat as …

Former MD of PMC Bank sent to police custody till October 17
5 years, 3 months ago

Former MD of PMC Bank sent to police custody till October 17

India Today  

Former Managing Director of Punjab and Maharashtra Cooperative Bank has been sent to police custody for 12 days till October 17 after he was produced in the Mumbai magistrate court on Saturday in connection with the bank fraud case. Joy Thomas, the former managing director of PMC Bank, was arrested by SIT of Mumbai Police's Economic Offences Wing on Friday …

PMC Bank case: HDIL directors remanded in police custody till October 9
5 years, 3 months ago

PMC Bank case: HDIL directors remanded in police custody till October 9

Hindustan Times  

Housing Development Infrastructure Limited’s directors Rakesh Kumar Wadhawan and his son Sarang Wadhawan played “active roles in commission of offence” and “appear to be real players of the functioning of all group companies”, stated the Economic Offences Wing before a court on Friday while seeking police custody for the Wadhawans. Arrested for their involvement in the Punjab and Maharashtra Co-operative …

PMC Bank’s MD arrested from Mumbai, search for former chairman is still on
5 years, 3 months ago

PMC Bank’s MD arrested from Mumbai, search for former chairman is still on

Hindustan Times  

The now-suspended managing director of the crisis-hit Punjab and Maharashtra Cooperative Bank, Joy Thomas, was placed under arrest by Mumbai Police’s Economic Offences Wing on Friday evening. HT Image Thomas and former PMC Bank chairperson Waryam Singh were named among the accused in the first information report filed earlier in the week in the case of financial irregularities at PMC …

police arrests suspended PMC Bank Managing director Joy Thomas
5 years, 3 months ago

police arrests suspended PMC Bank Managing director Joy Thomas

Op India  

A special investigation team of the Economic Offences Wing of Mumbai Police arrested absconding former MD of PMC Bank Joy Thomas today. They had been on the lookout for Joy Thomas and the bank’s former chairman Waryam Singh who were absconding ever since EOW arrested the HDIL chairman and managing director Rakesh Wadhawan and his son Sarang, co-accused in the …

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