- Friday 28 Feb 2020
PMC Bank scam: Custody of Wadhawans & Waryam Singh extended till Oct 14
PTI, Oct 9, 2019, 4:51 PM IST
Mumbai: A court here on Wednesday extended till October 14 the police custody of a former chairman of the Punjab and Maharashtra Cooperative (PMC) Bank and two directors of HDIL, arrested in connection with the alleged Rs 4,355 crore scam at the bank.
Housing Development Infrastructure Ltd (HDIL) chairman and managing director Rakesh Wadhawan and his son Sarang were arrested on last Thursday, while former chairman of PMC Bank Waryam Singh was held on Saturday.
The Economic Offences Wing (EOW) of the Mumbai Police, which had arrested the trio, produced them before Additional Chief Metropolitan Magistrate S G Shaikh as their custody ended on Wednesday.
Police told the court that they need to interrogate the accused further in connection with the scam.
The court then extended their remand till October 14.
Meanwhile, a number of customers of the bank staged protest against the bank officials outside the court.
The EOW had last week registered a case against the Wadhawans and the PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank.
Properties worth around Rs 3,500 crore, belonging to HDIL, had also been frozen by the EOW during the probe.
Besides the trio, police have also arrested Joy Thomas, former managing director of the PMC Bank, in the case. He is presently in police custody till October 17.
The EOW had earlier told the court the PMC Bank replaced 44 loan accounts of HDIL and its group companies, whose outstanding balance was significantly higher, with 21,049 fictitious loan accounts.
It is alleged that the bank’s board of directors and executives, including Joy Thomas, had “full knowledge” of this act.
New Delhi: The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT to initiate insolvency proceedings against e-commer....
New Delhi: With the April 1 deadline for mega merger of 10 state-run banks into four fast approaching, Finance Minister Nirmala Sitharaman on Wednesda....
New Delhi: The government is looking at revamping the 20-year old IT Act to keep pace with the advancement in the technology ecosystem, and bring in a....
New Delhi: Auditors will have to provide detailed disclosures about loan defaults, amount of cash losses and immovable properties as well as other asp....
New Delhi: The Centre on Tuesday proposed draft rules on battery waste management directing manufacturers and importers to ensure that used batteries ....
Mumbai: Irrfan Khan is returning to the movies with "Angrezi Medium" and his co-stars from the film Radhika Madan and Deepak Dobriyal are in awe of th....
Mumbai: Actor Jacqueline Fernandez is all set to feature in a music video along with "Bigg Boss" runner up Asim Riaz and the actor says she's excited ....
Dehradun: Union Law Minister Ravi Shankar Prasad on Thursday said there is no question of going back on the Citizenship (Amendment) Act, but the gover....
Mumbai: Teaming up with the Tabu was always on his to-do list, a wish filmmaker Anees Bazmee is now fulfilling with "Bhool Bhulaiyaa 2". The direct....
New Delhi: The Delhi government will give Rs 10 lakh to the families of those who lost their lives in the communal violence in northeast Delhi, Chief ....