Chartered accountants' apex body ICAI has sought information from RBI and or authorities on PMC Bank crisis to check wher any auditor was involved in alleged financial irregularities at lender. Taking te of "ermity of matter", ICAI on Wednesday said that it has triggered its disciplinary mechanism and has written to bank as well as regulatory ncies concerned. Institute of Chartered Accountants of India (ICAI) has written to Vigilance Department of RBI and Commissioner of Maharashtra Co-operative Societies.

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ICAI seeks details on PMC crisis

In a statement, institute said that it has sought requisite details of ir findings as well as that of any "member/firm alleged to be involved in matter. information has also been sought from statutory auditor of bank "pertaining to financial years 2017-18 and 2018-19", it ded. "ICAI would be actively pursuing issue with concerned regulators so as to examine matter in detail and would also take action through its proactive disciplinary process against any member if so, found to be involved in matter," statement said.

problems at Punjab and Maharashtra Cooperative (PMC) Bank came to light after a whistleblower complaint, following which Reserve Bank of India, on September 23, placed lender under an ministrator. RBI has also barred bank from carrying out regular banking activities.

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Suspended MD blames auditors

suspended managing director of PMC Bank, Joy Thomas, has blamed auditors for mess at bank, accusing m of only "superficially auditing" books of w crippled lender due to "time constraints".

Mumbai Police on Monday filed a case against former bank manment and promoters of HDIL in Punjab and Maharashtra Cooperative (PMC) Bank case and said a special investigation team will be probing case.

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