PMC Bank Scam: Former MD, Director In Custody
The Mumbai’s Esplanade Court on Thursday sent the former Managing Director, Joy Thomas and former Director Surjit Singh Arora to custody.
Thomas was sent to judicial custody for 14 days, while Arora was sent to police custody till October 22.
On Wednesday, the Economic Offences Wing of Mumbai Police had arrested Surjit Singh Arora. The Court had also extended the judicial custody of accused Rakesh Wadhawan, Sarang Wadhawan and Waryam Singh till October 23. The Supreme Court will hear the matter on October 18. Meanwhile, the main accused and promoters of bankrupt real state firm HDIL, Rakesh Wadhwan and Sarang Wadhwan have appealed in a letter to the RBI and other probe agencies to sell their assets and repay the loans owed to Punjab and Maharashtra Co-operative Bank (PMC). However, they denied the accusations of money laundering. Many PMC bank customers have been continuously protesting outside Mumbai’s Esplanade Court. Three depositors have died so far in the PMC bank scam.
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On Wednesday, the Economic Offences Wing of Mumbai Police had arrested Surjit Singh Arora. The Court had also extended the judicial custody of accused Rakesh Wadhawan, Sarang Wadhawan and Waryam Singh till October 23. The Supreme Court will hear the matter on October 18. Meanwhile, the main accused and promoters of bankrupt real state firm HDIL, Rakesh Wadhwan and Sarang Wadhwan have appealed in a letter to the RBI and other probe agencies to sell their assets and repay the loans owed to Punjab and Maharashtra Co-operative Bank (PMC). However, they denied the accusations of money laundering. Many PMC bank customers have been continuously protesting outside Mumbai’s Esplanade Court. Three depositors have died so far in the PMC bank scam.
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