PMC Bank Crisis: ED attaches HDIL promoters' private jet and jewellery

crackdown by Enforcement Directorate (ED) in PMC Bank scam continues. After attaching several luxury vehicles, ED has w attached jewellery worth Rs 60 crore on Saturday. ED has also attached a private jet of promoters of Housing Development and Infrastructure Limited (HDIL). private jet is in name of Privilege Airways Private Ltd (Bombardier challenger - 300 9 seater VT). exact valuation of seized materials will be done in coming few days.

ED attaches HDIl promoters' assets

ED is also in process of attaching yacht of Rakesh and Sarang Whawan. yacht is currently in Maldives. ncy is in touch with authorities so that y can get possession of yacht. Top ED sources say y suspect that promoters have used funds from bank to invest in properties. attachment process will continue for a few more days.

Meanwhile, Waryam Singh, ex-Chairman of bank and an accused in case, has surrendered before Mumbai Police’s EOW. In a letter written earlier in day, Singh said that he will cooperate with investigating ncy.

Here are jewellery seized by ED:

RE | Ex-MD of PMC Bank sent to police custody till Oct 17

PMC ex-MD sent to judicial custody

Earlier in day, former managing director of Punjab and Maharashtra Cooperative (PMC) Bank, Joy Thomas, arrested in connection with alleged Rs 4,355 crore scam at bank, was remanded in police custody till October 17.  Ecomic Offences Wing (EOW) of Mumbai Police, which h arrested Thomas on October 4, produced him before ditional Chief Metropolitan Magistrate S G Shaikh.

RE | PMC Bank crisis: ED seizes 12 luxury cars belonging to HDIL promoters

police told court that y need his custody to interrogate him as he was part of conspiracy. However, Thomas's lawyer argued that he is being me a "scapegoat". On October 3, EOW h arrested directors of bankrupt Housing Development and Infrastructure (HDIL) Rakesh Whawan and his son Sarang in connection with case. y are in police custody till October 9.

RE | PMC Bank Crisis: Mumbai Police's EOW arrests bank's ex-MD Joy Thomas

RBI extends limit

On Thursday, Reserve Bank of India (RBI) hiked withdrawal limit to Rs 25,000 from Rs 10,000 for PMC's depositors, according to PTI. Previously on September 23, RBI h hiked withdrawal limit from Rs.1000 to Rs. 10,000. On September 21, RBI took control of bank for six-months. It h also capped withdrawals at ₹1,000 per account and bank is t allowed to make any fresh loans for six months. This anuncement by Central bank caused chaos throughout financial capital, with panicked account holders crowding bank.

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