Published 22:15 IST, November 16th 2019
PMC Bank scam: EOW arrests BJP MLA's son and former director Rajneet Singh
The former director of PMC Bank, Rajneet Singh, who is also the son of former BJP MLA Tara Singh has been arrested by the EOW of the Mumbai Police on Saturday
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The former director of PMC Bank, Rajneet Singh, who is also the son of former BJP MLA Tara Singh, has been arrested by the Economic Offence Wing (EOW) of the Mumbai Police. This comes as there has been a row of arrests in connection with the PMC Bank matter in Mumbai. On Wednesday, November 13, the Economic Offences Wing (EOW) of Mumbai Police arrested an auditor in connection with the alleged Rs, 4,355 crore scam at the Punjab & Maharashtra Cooperative (PMC) Bank. Including the auditor, this becomes the ninth arrest in the case.
Other arrests
Accounting to the number of arrests in connection with the PMC Bank scam, Anita Kirdat (35), a 'concurrent auditor' of the bank, was arrested on Tuesday. Her duty included ensuring a "systematic and timely examination" of the bank's financial transactions. Kirdat audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes. She was called for questioning and later arrested, the official said, adding that she was remanded in EOW custody by a local court till November 18.
On Monday as well, the EOW had arrested two statutory auditors, Jayesh Sanghani and Ketan Lakdawala, in connection with the scam. They are suspected to have played a key role in covering up the irregularities in the bank. The EOW suspects a nexus between some of the accused and realty group HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to the appointment of administrator and restrictions on withdrawal of funds. Earlier, the EOW had arrested three top bank officials and two promoters of HDIL -- Rakesh and Sarang Wadhawan -- in the scam.
(With Agency Inputs)
20:00 IST, November 16th 2019