Account-holders protest on the streets of Mumbai for actions against PMC heads
Mumbai| PMC bank customers hit Mumbai street again accusing Reserve Bank of India for not taking any actions against PMC officials.
The protesters’ signboard read as ‘No Bail, Only Jail’. Punjab Maharashtra Cooperative (PMC) Bank Account-holders are upset with RBI’s lack of measures against the officials of the bank. The account holders are demanding to return their savings after limits were imposed on withdrawal.
On Monday Enforcement Directorate (ED) searched the properties of Wadhawan’s close associates after money laundering case was filed against HDIL’s chairman Rakesh Wadhawan and his son Sarang Wadhawan in the Rs. 4,355 crore PMC Bank fraud case.
The search states that the owners of Housing Development and Infrastructure Ltd presented several houses to politicians in Maharashtra’s high-class areas. The identity of those politicians was not unfolded by the ED.
The Money laundering case is also filed against the promoters of PMC bank by the agency. The financial investigation agency is looking for the details of the 18 other related companies to HDIL.
The ED had carried out raids at six places in Mumbai, including the head office of HDIL in Bandra (East) and the residence of Rakesh Wadhawan which is known as Wadhawan House in Bandra (West). The agency also raided the premises of Waryam Singh and former PMC Bank Managing Director Joy Thomas.