Several account holders of Punjab and Maharashtra Co-operative Bank (PMC Bank) had lodged a police complaint against the bank officials on Thursday
Mumbai| The Economic Offenses Wing of Mumbai Police has registered a case against the officials of the real estate company HDIL and the Punjab and Maharashtra Co-operative (PMC) Bank. The Economic Offenses Wing has set up a Special Investigation Team SIT to investigate the case.
The police have filed a lawsuit against 14 officers of the company and the bank under sections 409, 420, 465, 466, 471 and 120B of the Indian Penal Code IPC.
Several account holders of Punjab and Maharashtra Co-operative Bank (PMC) had lodged a police complaint against the bank officials on Thursday, a police official said, adding that public funds were levied against the chairman and its directors by the bank on behalf of customers. A complaint of embezzlement has been filed.
Also Read: RBI puts restrictions on PMC bank; customers can withdraw only Rs 1000 in six months
A delegation of bank account holders went to Sion Police Station in Central Mumbai and filed a complaint against the bank officials. The Reserve Bank has imposed several restrictions on PMC Bank due to regulatory loopholes.
The police officer said the complaint alleged that at least 14 people, including the chairman of PMC Bank and all its directors, had misappropriated the money of the account holders. Account-holders have requested to take appropriate action in this regard.
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