Two auditors arrested in PMC Bank's multi-crore scam

(Representatives) Mumbai, Ta. November 12, 2019, Tuesday

Punjab and Maharashtra Co-operative (PMC) Bank officials have arrested two auditors in a scam worth crores of rupees. In this case, the police had earlier been in the custody of the promoter of the high-profile HDIL, PMC Bank. On the other hand, the Economic Crimes Branch has informed that the sessions court has rejected the anticipatory bail application of two former operators of PMC Bank.

The Economic Crimes Branch of Mumbai Police has arrested Abeank auditors Jayesh Sanghani and Ketan Lakdawala last night. Currently, an estimated Rs 4,355 crore scam has come to light in Punjab and Maharashtra Co-operative Bank.

Both auditors are said to have played a key role in protecting the high official of the bank involved in the scam. Police questioned Jayesh and Ketan's scandal. But they could not answer satisfactorily. Eventually, both of them were arrested by registering a case. Six have lost their lives in frustration at the money being trapped in this bank.

Meanwhile, the sessions court has rejected the application of two former directors of PMC Bank accused Parmeet Sodhi and Surjit Singh Narang. Surjit Singh Arora, arrested, filed a bail plea for illness and his hearing is set for November 16.

A large number of PMC bank members gathered outside the court to protest the accused's bail application. Since the hearing was post lunch, the commissioners had interviewed Police Commissioner Sanjay Barve. The Commissioner briefed the proceedings of this chapter.

Meanwhile, RBI has placed restrictions on the bank that came out after the scandal broke out at PMC Bank. On Monday, about 400 landlords visited Mumbai Police Commissioner Sanjay Barve to alert them to the hardships and problems.