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With Rs 90 lakh stuck in PMC Bank account, depositor dies after protest in Mumbai

On Monday, Sanjay Gulati had participated at a rally against the PMC Bank scam, at the Killa Court in the Fort area. The incident occurred when he returned home in the afternoon and was having food.

India TV News Desk India TV News Desk
New Delhi Updated on: October 15, 2019 10:42 IST

Amid the ongoing crisis at the Punjab and Maharashtra Cooperative (PMC) Bank, a 51-year-old depositor has lost his life in Mumbai. A customer of the PMC Bank, Sanjay Gulati passed away on Monday after he took part in a protest rally by the depositors of the bank. Gulati suffered a cardiac arrest after he returned home from the protest rally against the PMC Bank scam. 

According to reports, Gulati was a resident of Taporewala Gardens in Mumbai's Oshiwara and held an account at the PMC Bank. His deposits in the bank were worth Rs 90 lakhs. 

On Monday, Sanjay Gulati had participated at a rally against the PMC Bank scam, at the Killa Court in the Fort area. The incident occurred when he returned home in the afternoon and was having food. He suffered a cardiac arrest while he was eating and died.

Gulati was declared 'brought dead' after he was rushed to a hospital. 

Media reports suggest Gulati was earlier an employee with Jet Airways and had lost his job after the airline underwent crisis in April. The PMC Bank crisis added up to his misery after the Reserve Bank of India placed restrictions on the withdrawal limit for the depositors. 

Meanwhile, Mumbai's Esplanade court on Monday had extended the police custody of former PMC Bank chairman and Housing Development and Infrastructure Limited (HDIL) 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 Enforcement Directorate also seized and identified assets worth Rs 3,830 crore in the PMC Bank money laundering case.

The central probe agency said it is valuing a number of properties of Housing Development and Infrastructure Limited (HDIL), its directors, promoters, Punjab and Maharashtra Co-operative (PMC) Bank officials and others.

The identified assets will soon be attached under the Prevention of Money Laundering Act (PMLA).

"Further probe is in progress to identify and locate the balance proceeds of crime," the Enforcement Directorate (ED) said in a statement.

Also Read | Assets worth Rs 3,830 crore seized, identified in PMC Bank case: ED

Also Read | PMC Bank: Police custody of former chairman, HDIL directors extended

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