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Scam accused ex-banker held in Indo-Nepal border town in Bihar
Bal has been on run since September 30, 2019, when Mumbai’s economic offences wing (EOW) registered a case in connection with the fraud at the cooperative bank against Bal and 10 of its former directors, who were accused of illegally extending huge loans to realty firm Housing Development and Infrastructure Limited (HDIL) and its group companies.
Former director of Punjab and Maharashtra Cooperative (PMC) Bank Daljit Singh Bal was apprehended by the Mumbai police’s Economic Offences Wing (EOW) in Bihar, an official said on Thursday.
Bal, who is wanted in the PMC Bank scam case, was arrested late Wednesday evening at Raxaul in East Champaran, close to the India-Nepal border, the official said.
A K Pankaj, deputy superintendent of police (immigration) posted at Raxaul, said Bal was arrested while he, along with his wife and son, was on way to Nepal in a private vehicle around 10 pm on Wednesday.
“During his questioning, we learnt he was planning to leave for Canada via Kathmandu,” said Pankaj.
Bal has been on run since September 30, 2019, when Mumbai’s economic offences wing (EOW) registered a case in connection with the fraud at the cooperative bank against Bal and 10 of its former directors, who were accused of illegally extending huge loans to realty firm Housing Development and Infrastructure Limited (HDIL) and its group companies.
During the investigation, it was found that PMC Bank had masked 44 problematic loan accounts involving advances worth ₹7,457.49 crore to some entities, including HDIL, by tampering with its core banking system and these accounts were accessible only to limited staff members.
Mumbai’s economic offence wing has been apprised about his arrest and a team will be arriving shortly to take Bal’s custody, Pankaj said.
