Promoters of HDIL, accused in the Punjab and Maharashtra Co-operative (PMC) bank scam, are ready to repay the money by selling their attached assets.
Mumbai| A delegation of distressed customers of the PMC Bank will meet former Prime Minister of India Dr Manmohan Singh in Mumbai today. The delegation will seek help from Singh. Manmohan Singh is in Mumbai today. He is scheduled to address a press conference ahead of the Maharashtra assembly elections on October 21. Given his criticism of the BJP government economic policies in the past, his press conference is expected to be centred around the same.
Also Read: PMC account holders demand ‘No Bail, Only Jail’ for bank officials
The PMC Bank customer delegation will also seek the intervention of Dr Singh in the matter. The RBI has recently increased the withdrawal limit for the customers to 40,000 rupees. Earlier, it was 25,000 rupees which were increased after the customers’ grievances.
HDIL Promoters agree to repay the loan by selling assets:
Promoters of real estate company HDIL, accused in the Punjab and Maharashtra Co-operative (PMC) bank scam, are ready to repay the money by selling their attached assets. The company is accused of a Rs 4355 crore scam in collusion with bank officials. On Wednesday, HDIL promoters Rakesh and Sarang Wadhawan wrote to the finance ministry, RBI and investigative agencies. In this, he has said that he will auction his 18 attached properties including Rolls Royce and Aircraft.
Director Surjit Arora arrested:
The Economic Offenses Wing (EOW) of Mumbai Police has registered a case regarding the PMC bank scam. On Wednesday, the police arrested Surjit Singh Arora, former director of PMC Bank. This is the fifth major arrest in the scam. HDIL promoters Rakesh and Sarang Wadhawan (father-son), former bank chairman Varyam Singh and former MD Joy Thomas have also been arrested.
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