Around a dozen depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) 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.
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 (PMC) scam, from Mumbai's Arthur Road Jail to their residence.
Supreme Court on Thursday stayed the release of HDIL directors, Rakesh Wadhawan and Sarang Wadhawan, from Mumbai jail. Earlier today, the Court had asked Solicitor General (SG) Tushar Mehta to come up with the diary number at 2 pm today, for listing the matter pertaining to his mentioning in the case.
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 (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank.
RBI alert: The Reserve Bank of India (RBI) issued a notice restricting the banking operations of Sri Gururaghavendra Sahakara Bank Niyamitha (SGRSBN) bank and has put restrictions on cash withdrawals for the account holders of the bank. The maximum cash withdrawal limit for SGRSBN Bank now stands at Rs 35,000.
The charge sheet in the multi-crore Punjab and Maharashtra Cooperative (PMC) Bank scam has named former managing director of the bank Joy Thomas, former chairman Waryam Singh, former director of the bank Surjit Singh Arora, along with Housing Development and Infrastructure Limited (HDIL) promoters Rakesh Wadhawan and Sarang Wadhawan.
"The RBI-appointed administrator to PMC Bank intends to monetise a yacht and two aircraft through a transparent process. For the purpose, the administration plans to appoint a valuer/consultant and invites proposals from interested parties," the administrator said in a public notice.
Mumbai Police detained over 50 depositors of the Punjab and Maharashtra Cooperative (PMC) Bank on Sunday after they protested outside the residence of Chief Minister Uddhav Thackeray.
The Maharashtra government will take up concerns of the troubled Punjab and Maharashtra Cooperative (PMC) Bank's depositors with the RBI in a couple of days, state minister Jayant Patil said on Thursday.
The relative said Jiandani had an account in Punjab & Maharashtra Cooperative Bank (PMC Bank), which was put under restrictions by the RBI in September after an alleged Rs 4,355 crore scam came to light.
In their pleas, the petitioners alleged that the RBI's decision (to put restrictions on cash withdrawal) was irrational, arbitrary and violative of the fundamental rights of common public.
Twelve people, including top officials of the PMC Bank and HDIL, have so far been arrested by Mumbai Police's Economic Offences Wing (EOW) in connection with the PMC Bank scam.
The Economic Offences Wing (EOW) of Mumbai Police on Tuesday arrested three directors of Punjab & Maharashtra Cooperative (PMC) Bank in connection with the alleged Rs 4,355 crore fraud which is under investigation, an official said.
The protest, announced last weekend after a round of sit-ins outside the RBI headquarters, was held at the Azad Maidan, the designated agitating place located not far off from the central bank headquarters.
During the current inspection, PMC Bank has admitted to having a total exposure of Rs 6,226.01 crore (inclusive of interest accrued in the related accounts) as on March 31, 2019 to the HDIL group.
In a detailed affidavit filed before the Bombay High Court on Tuesday, the Reserve Bank of India (RBI) has virtually admitted that it was 'fooled' by the management of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank.
A day after Rajneet Singh, son of former BJP MLA Sardar Tara Singh, was arrested in connection with the Punjab and Maharashtra Cooperative (PMC) Bank scam, the Economic Offences Wing (EOW) of the city police on Sunday conducted a search at his residence here, an official said.
He further said the government should find "out-of-box" solution to redress the hardships being faced by all categories of depositors and the cooperative sector.
Economic Offence Wing (EOW) of the Mumbai Police has arrested Ranjeet Singh in connection with PMC Bank scam on Saturday. Singh is the former Director of PMC Bank and son of former BJP MLA Tara Singh.
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 up the irregularities involving some top officials of the bank, he said.
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