PMC Bank loan default case: HDIL’s Wadhawans arrested, 44 masked bank accounts found

Housing Development Infrastructure Limited’s (HDIL) directors Rakesh Wadhawan and Sarang Wadhawan have been arrested by the Economic Offences Wing (EOW), Mumbai in the Punjab and Maharashtra Co-operative Bank Case, said the sources in the agency. The EOW has also provisionally attached properties worth Rs 3500 crore which includes land parcels and commercial premises of HDIL.

The Wadhawans were unable to give satisfactory replies following which they were placed under arrest, stated sources. According to the agency, a total of 44 accounts linked with HDIL were masked by tampering bank software, which left them virtually hidden from the core banking system. Only a chosen few employees of PMC were in know of these bank accounts, revealed EOW sources.

The Mumbai Police had filed a case against the bank officials and HDIL promoters in the Punjab and Maharashtra Cooperative (PMC) Bank case on Monday.

PMC bank’s former Managing Director Joy Thomas had revealed that the bank’s exposer to real estate developer company HDIL stood 10.2 billion rupees ($144 million) by 2011 and this was hidden from the RBI..

Punjab & Maharashtra Co-operative Bank Ltd. was able to dupe regulators about its growing exposure to a single property developer for at least a decade before the firm filed for insolvency, according to Thomas.

The bank used “dummy accounts” and other methods to hide its oversized loans said Bloomberg News.

HDIL, a slum redevelopment company which has now gone bankrupt has been delaying loan payments for the past few years.



  1. Pingback: get video from youtube

  2. Pingback: Types Of Fishing Poles

  3. Pingback: 안전카지노

  4. Pingback: original link

  5. Pingback: Personalmanagement Pflege

  6. Pingback: buy super lemon haze online

  7. Pingback: huong dan dang ky 12bet

  8. Pingback: dumps shop legit

  9. Pingback: devsecops Consultants

  10. Pingback: automated regression testing software

  11. Pingback: 사설토토

  12. Pingback: Harold Jahn Utah

  13. Pingback: replica buy bvlgari knockoff

  14. Pingback: Quality engineering

  15. Pingback: AGA Six-Four Series manuals

  16. Pingback: 부자티비

  17. Pingback: fb sign in

  18. Pingback: buy magic mushrooms online

  19. Pingback: digital transformation strategy points

  20. Pingback: cheap cvv shop

  21. Pingback: swiss made universes strongest daytona 116598rbow series imitation

  22. Pingback: nova88

  23. Pingback: devops

  24. Pingback: bergara 6.5 creedmoor

  25. Pingback: sportsbet

  26. Pingback: sbobet

  27. Pingback: sbobet

  28. Pingback: เงินด่วน โอนเข้าบัญชี

  29. Pingback: how to earn passive income

  30. Pingback: buy bergara arms guns

  31. Pingback: Investment opportunities

  32. Pingback: weed delivery toronto

  33. Pingback: Order DMT online Brisbane

  34. Pingback: นักศึกษารับงาน

  35. Pingback: 티비위키

Leave a Reply

Your email address will not be published.

20 − two =

News is information about current events. News is provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, and also on the testimony of observers and witnesses to events. It is also used as a platform to manufacture opinion for the population.

Contact Info

D 601  Riddhi Sidhi CHSL
Unnant Nagar Road 2
Kamaraj Nagar, Goreagaon West
Mumbai 400062 .

Email Id: [email protected]

West Bengal

Eastern Regional Office
Indsamachar Digital Media
Siddha Gibson 1,
Gibson Lane, 1st floor, R. No. 114,
Kolkata – 700069.
West Bengal.

Office Address

251 B-Wing,First Floor,
Orchard Corporate Park, Royal Palms,
Arey Road, Goreagon East,
Mumbai – 400065.

Download Our Mobile App

IndSamachar Android App IndSamachar IOS App
To Top
WhatsApp WhatsApp us