Nearly a month after the RBI clamped down on the operations of scam-hit PMC Bank, the depositors say their woes have only worsened, with some unable to pay school fees of their wards, while others finding it difficult to meet medical expenses.
The Enforcement Directorate on Friday grilled former Union minister Praful Patel for his links with Dawood Ibrahim's close aide Iqbal Mirchi in a money laundering case and also confronted him with the promoters and directors of the Housing Development and Infrastructure Ltd (HDIL), arrested in the Rs 4,335-crore Punjab and Maharashtra Cooperative (PMC) Bank case.
The RBI has initially allowed depositors to withdraw a paltry Rs 1,000, followed by Rs 25,000 which has now been raised to Rs 40,000, but the customers have been demanding full access to all their accounts.
Officials had earlier quoted Rs 4,355 crore loan fraud by the bank. However, the total fraud amounts to over Rs 6,500 crore, contrary to the amount quoted by the corrupt officials who were involved in the scam.
Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.
The development was confirmed on Wednesday after Mumbai Police Commissioner Sanjay Barve met a group of PMC Bank depositors at his office.
A day after the Enforcement Directorate (ED) revealed that former Union Minister and Nationalist Congress leader (NCP) Praful Patel used private jets of Punjab and Maharashtra (PMC) Bank fraud accused Wadhawans, the agency on Wednesday claimed that it has identified more properties of the promoters and directors of the Housing Development and Infrastructure Limited (HDIL).
The Punjab & Maharashtra Co-operative Bank has been put under restrictions by the Reserve Bank of India (RBI) following the discovery of a Rs 4,355-crore scam.
PMC Bank account holder Sanjay Gulati, who passed away of cardiac arrest, was raising a special child. Gulati had a deposit of over Rs 90 lakh with the troubled Punjab and Maharashtra Bank Cooperative (PMC) Bank. He was under stress because of his deposit being stuck.
A second PMC Bank account holder has died of cardiac arrest. Fattomal Punjabi was depressed after the news of PMC Bank scam. He had an account with PMC Bank's Mulund Branch.
On Monday, Sanjay Gulati had participated at a rally against the PMC Bank scam, at the Killa Court in the Fort area. The incident occurred when he returned home in the afternoon and was having food.
Reserve Bank of India on Monday enhanced the withdrawal limit for depositors of Punjab and Maharashtra Cooperative (PMC) Bank Ltd to ₹ 40,000, giving relief to its customers ahead of Diwali.
The Enforcement Directorate on Monday said it has seized and identified assets worth Rs 3,830 crore in the PMC Bank money laundering case.
New pieces of evidence are being tracked everyday, the investigating officer informed the court, adding two more days of custody is required to extract more information from the key accused in the bank fraud.
Depositors of Punjab and Maharashtra Cooperative (PMC) Bank protested outside a court on Wednesday, demanding stringent action against the culprits, as police custody of three accused in Rs 4,355 crore scam at the bank was extended till October 14.
HDIL owner Rakesh Wadhawan, who has been arrested by the Mumbai Police in the PMC Bank fraud case, is also linked to an alleged cheating case involving real estate firm Rudra Buildwell.
Not just luxury cars, Wadhwans also own a yacht and 22-bedroom flat in Alibaug. The Enforcement Directorate is continuing searches in the PMC bank fraud case wherein close associates of HDIL Directors are also being searched.
A Mumbai Court on Sunday remanded to police custody till October 9 the former Chairman of the crisis-hit Punjab & Maharashtra Cooperative Bank Ltd., S. Waryam Singh, officials said. Singh, who was nabbed by the Economic Offences Wing (EOW) of Mumbai Police from his hiding place in Mahim late on Saturday, was produced before a magistrate court on Sunday.
PMC bank fraud case: The cars include two Rolls Royce Phantom, an ultra-luxury Bentley Continental and a couple of high-end BMW, Mercedes, Jaguar and Land Rover SUVs.
The absconding Chairman of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank Ltd, S. Waryam Singh, has been nabbed by the Economic Offences Wing of Mumbai Police, an official said here on Saturday.
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