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 Bank case, the duo was remanded in police custody till October 9. The police also stated that PMC Bank has lent multiple credit facilities to the HDIL group of companies. The EOW further told the court that false records had been submitted to the Reserve Bank of India and that “to find of similar fraud has bene played with any other institution,” the Wadhawans needed to be kept in police custody.

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History of this topic

Bank fraud case: HDFC Bank duped of Rs 1.4 cr by opening priority accounts, 3 arrested
3 years, 5 months ago

Bank fraud case: HDFC Bank duped of Rs 1.4 cr by opening priority accounts, 3 arrested

India TV News  

Delhi Police Crime Branch on Friday arrested three persons, including a woman, for allegedly duping HDFC bank of Rs 1.4 crore. The gang of cheats had allegedly duped the Bank by opening priority accounts in several banks to avail of premier banking services using fake documents. Using these numerous high-value accounts, the gang members used to purchase costly items on …

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 …

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 …

Delhi HC directs PMC Bank to file status report on asset sale of HDIL promoters
4 years, 7 months ago

Delhi HC directs PMC Bank to file status report on asset sale of HDIL promoters

Live Mint  

NEW DELHI: The Delhi high court has directed the administrator of Punjab and Maharashtra Co-operative Bank Limited to file a status report on the asset sale of promoters of Housing Development and Infrastructure. The order comes on a plea seeking directions to the Reserve Bank of India to issue a statement on timeliness and safety of deposits held by depositors …

PMC Bank scam: SC stays Bombay HC order directing sale of HDIL assets to repay dues
4 years, 11 months ago

PMC Bank scam: SC stays Bombay HC order directing sale of HDIL assets to repay dues

India TV News  

The Supreme Court on Friday stayed the Bombay High Court order directing sale of bankrupt Housing Development and Infrastructure Ltd to ensure repayment of dues of crisis-hit Punjab and Maharashtra Cooperative Bank. A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against …

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: Bombay High Court sets up panel for sale of HDIL assets; next date of hearing on 30 April
4 years, 11 months ago

PMC Bank scam: Bombay High Court sets up panel for sale of HDIL assets; next date of hearing on 30 April

Firstpost  

Mumbai: The Bombay High Court set up a three-member committee on Wednesday for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative Bank. The court said the committee shall first value and sell the encumbered properties of HDIL and if there is any …

PMC Bank Crisis: Bombay HC Allows Auction Of HDIL Assets
4 years, 11 months ago

PMC Bank Crisis: Bombay HC Allows Auction Of HDIL Assets

Live Law  

In a huge relief for the account holders of crisis-hit Punjab and Maharashtra Co-operative Bank, the Bombay High Court on Wednesday allowed a public interest litigation filed by one Sarosh Damania seeking auction of all Housing Development and Infrastructure Limited assets either mortgaged with the bank or attached by the Economic Offences Wing, Mumbai. In an affidavit in another PIL …

PMC Bank scam: HDIL MD Sarang Wadhawan's wife received Rs 70 lakh salary for working as retainer, finds ED probe
5 years ago

PMC Bank scam: HDIL MD Sarang Wadhawan's wife received Rs 70 lakh salary for working as retainer, finds ED probe

Firstpost  

In her statement to the ED, Anu Wadhawan said that she was not a director on any of the HDIL group companies HDIL promoter and Managing Director and PMC scam accused Sarang Wadhawan’s wife Anu received Rs 70 lakh for working as a retainer in HDIL group firm Privilege Industries since 2016, according to media reports. In her statement to …

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 …

Bombay HC Reserves Order In PIL Seeking Expeditious Sale Of HDIL Assets In Order To Pay Back PMC Bank Depositors [Read Petition]
5 years ago

Bombay HC Reserves Order In PIL Seeking Expeditious Sale Of HDIL Assets In Order To Pay Back PMC Bank Depositors [Read Petition]

Live Law  

The Bombay High Court on Thursday reserved its order in a Public Interest Litigation filed by Advocate Sarosh Damania seeking public auction of all Housing Development and Infrastructure Limited assets either mortgaged with the crisis-hit Punjab and Maharashtra Co-operative Bank or attached by the Economic Offences Wing, Mumbai. HDIL's counsel Vikram Chaudhari told the Court that the total value of …

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 …

Maharashtra government suggests merger of troubled PMC Bank with MSC Bank
5 years, 1 month ago

Maharashtra government suggests merger of troubled PMC Bank with MSC Bank

India TV News  

In a bid to provide relief to depositors of the troubled lender, the Maharashtra government has suggested the scam-hit Punjab and Maharashtra Cooperative Bank be merged with the MSC Bank. The state government will also speak to the Reserve Bank of India on the issue of merger of the Maharashtra State Cooperative and PMC banks, if the need arises, Patil …

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 Falsified Records, Treated NPA Accounts As Non-NPA; RBI Tells Bombay HC, Court Refuses To Interfere With Withdrawal Restrictions
5 years, 1 month ago

PMC Bank Falsified Records, Treated NPA Accounts As Non-NPA; RBI Tells Bombay HC, Court Refuses To Interfere With Withdrawal Restrictions

Live Law  

As hundreds of aggrieved depositors of the Punjab and Maharashtra Co-operative Bank protested outside the Bombay High Court, Reserve Bank of India on Tuesday filed a detailed affidavit listing out the reasons why the financial irregularities at Punjab and Maharashtra Co-operative Bank were not detected earlier by the Central Bank and steps being taken to ease the financial stress that …

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 …

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, …

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: Depositors continue protest seeking payback; police detains three agitators
5 years, 2 months ago

PMC Bank scam: Depositors continue protest seeking payback; police detains three agitators

Firstpost  

Depositors of the PMC Bank on Wednesday protested in the financial capital, seeking an immediate payback of their dues from the troubled cooperative Mumbai: Depositors of the PMC Bank on Wednesday protested in the financial capital, seeking an immediate payback of their dues from the troubled cooperative. The Wednesday’s protest at the Azad Maidan, the designated protest ground in the …

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 …

HDIL promoters Wadhawans write to RBI, investigating agencies to sell their attached assets to repay PMC Bank loans
5 years, 2 months ago

HDIL promoters Wadhawans write to RBI, investigating agencies to sell their attached assets to repay PMC Bank loans

Firstpost  

The letter was released by a spokesperson of the Wadhawans. The father-son duo of HDIL promoters Rakesh and Sarang Wadhawan had written a letter to the Reserve Bank of India on 16 October letter requesting the investigating agencies to sell off their attached assets at the fair market value and start the process of repaying loans it took from Punjab …

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 …

Shiv Sena MPs meet RBI governor Shaktikanta Das, request him to redress issues related to scam-hit PMC bank's customers
5 years, 2 months ago

Shiv Sena MPs meet RBI governor Shaktikanta Das, request him to redress issues related to scam-hit PMC bank's customers

Firstpost  

A delegation of Shiv Sena MPs on Tuesday met RBI governor Shaktikanta Das requesting him to redress issues related to the PMC bank customers. Mumbai: A delegation of Shiv Sena MPs on Tuesday met RBI governor Shaktikanta Das requesting him to redress issues related to the PMC bank customers. five lakh as an additional measure.” Last month, the RBI restricted …

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 …

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

Former PMC Bank chariman, HDIL directors sent to police custody till October 16

India Today  

The police custody of former PMC Bank chairman and Housing Development and Infrastructure Limited directors was on Monday extended to 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. Just a few days ago, startling details came to the fore on how former …

80% of PMC customers will get money back: Amit Shah
5 years, 2 months ago

80% of PMC customers will get money back: Amit Shah

India Today  

Around 80 per cent of Punjab & Maharashtra Co-operative Bank's customers will likely get all their money back once legal proceedings are over, Home Minister Amit Shah said, as he sought to assuage concerns over the scandal-hit bank's ability to pay its depositors. Speaking to India Today TV, Amit Shah said, "As far as PMC scam is concerned, only legal …

Will discuss PMC Bank issue with PM: Fadnavis tells depositors
5 years, 2 months ago

Will discuss PMC Bank issue with PM: Fadnavis tells depositors

India Today  

Maharashtra Chief Minister Devendra Fadnavis has told the depositors of the scam-hit PMC Bank that he would discuss the issue of their distress with Prime Minister Narendra Modi when he meets the latter on October 13. Fadnavis said he would be meeting Modi on October 13, and he had already prepared a brief on the PMC Bank issue for the …

Congress Attacks Centre In Connections With PMC Bank Scam; Demands White Paper
5 years, 2 months ago

Congress Attacks Centre In Connections With PMC Bank Scam; Demands White Paper

ABP News  

New Delhi: The Congress party on Friday launched an attack on the Centre in connection with the Punjab and Maharashtra Co-op Bank scam, demanding that the government issue a white paper on the matter. Investigative agencies are currently probing the PMC Bank scam, while HDIL promoter and the bank Chairman are in police custody. An FIR was filed in this …

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 attaches HDIL promoter's 5-acre bungalow near Mumbai in money laundering probe
5 years, 2 months ago

PMC Bank case: ED attaches HDIL promoter's 5-acre bungalow near Mumbai in money laundering probe

Firstpost  

A private business jet, Dassault Falcon 200 owned by accused Rakesh Wadhawan of HDIL was earlier seized by the ED Mumbai: The Enforcement Directorate on Thursday sealed a 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. A private business jet, Dassault Falcon 200 owned …

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 crisis: ED seizes another plane, cars, speed boat from Wadhawans' Alibaugh bungalow
5 years, 3 months ago

PMC Bank crisis: ED seizes another plane, cars, speed boat from Wadhawans' Alibaugh bungalow

India Today  

The Enforcement Directorate on Monday continued its crackdown on the top officials of Housing Development and Infrastructure Ltd, the company which is linked with the crash of Punjab and Maharashtra Cooperative Bank. The ED officials have found around Rs 10 crore in fixed deposits and saving accounts of Waryam Singh, former Chairman of PMC Bank, while Rs 100 crore worth …

PMC Bank Chairman Waryam Singh sent to police custody till October 9
5 years, 3 months ago

PMC Bank Chairman Waryam Singh sent to police custody till October 9

India TV News  

A Mumbai Court on Sunday remanded to police custody till October 9 the former Chairman of the crisis-hit Punjab & Maharashtra Cooperative Bank Ltd., S. Waryam Singh, officials said. The 68-year old Singh was missing since the irregularities in the PMC Bank tumbled out two weeks ago, and was traced to a location in Mahim where he was in hiding …

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 …

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 scam: Economic offences wing arrests former MD Joy Thomas in connection with alleged Rs 4,355 cr scam
5 years, 3 months ago

PMC Bank scam: Economic offences wing arrests former MD Joy Thomas in connection with alleged Rs 4,355 cr scam

Firstpost  

The Mumbai Police arrested Punjab Maharashtra Co-operative Bank’s former managing director Joy Thomas on Friday. He was arrested by the Economic Offences Wing in connection with the alleged Rs 4,355 crore scam at the PMC Bank. The bank’s former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with HDIL director Rakesh Wadhawan have been named in …

PMC Bank scam: HDIL's Rakesh Wadhawan, son Sarang sent to police custody till 9 October
5 years, 3 months ago

PMC Bank scam: HDIL's Rakesh Wadhawan, son Sarang sent to police custody till 9 October

Firstpost  

HDIL chairman and managing director Rakesh Wadhawan and his son Sarang were on Friday sent to police custody till October 9 in the Punjab Maharashtra Cooperative Bank scam, an official said Mumbai: HDIL chairman and managing director Rakesh Wadhawan and his son Sarang were on Friday sent to police custody till October 9 in the Punjab Maharashtra Cooperative Bank scam, …

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