Past, present PMC Bank directors to be quizzed

Shiv Kumar

Tribune News Service

Mumbai, October 22

The Economic Offences Wing of the Mumbai police is looking into the functioning of past and present directors of the troubled Punjab and Maharashtra Cooperative (PMC) Bank after new facts of their conduct have come to light, sources said here.

The police have so far arrested chairman Waryam Singh, MD Joy Thomas and director Surjit Singh Arora and have been questioning them about the loans granted by the bank to HDIL and its promoters Rakesh and Sarang Wadhwan. “The FIR mentions the names of all the directors and they will be questioned soon and if required, they will also be arrested,” a police source said.

Meanwhile, two other directors — Daljit Singh Bal and Gurunam Singh Hothi — claimed they have nothing to do with PMC Bank’s links with HDIL and the Wadhwans and their own deposits with the PMC Bank have been frozen.