Maharashtra: Three more arrested in PMC bank fraud case
Jaswinder Banwait, a long-term director of PMC bank, as well as Vishwanatha Prabhu and Sripad Jere, associated with the a firm auditing PMC bank, were placed under arrest by the police
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The police has filed two charge sheets so far against several directors of PMC bank, as well as owners of HDIL and those associated. (File)
Three more persons, including a director of the Punjab and Maharashtra Co-operative (PMC) Bank, were arrested on Thursday in connection with the alleged Rs 4,355-crore fraud.
Jaswinder Banwait, a long-term director of PMC bank, as well as Vishwanatha Prabhu and Sripad Jere, associated with the firm auditing PMC bank, were placed under arrest by the police. An officer said Banwait could not give satisfactory answers as to why the bank gave credit to HDIL in spite of several defaults. Prabhu and Jere inflated values of properties owned by PMC, the officer added.
The police has filed two charge sheets so far against several directors of PMC bank, as well as owners of HDIL and those associated with auditing firms for their role in over-exposure of the bank to HDIL, that led to the bank’s collapse last year.
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