‘PMC Bank felt obligated to Wadhawans’
Punjab and Maharashtra Co-operative (PMC) Bank continued to extend credit facilities to Housing Development and Infrastructure Limited (HDIL) group as the promoter of the realty group, Rakesh Wadhawan, had saved the bank during difficult times by infusing capital, revealed the charge sheet filed on Friday by the economic offences wing (EOW) of the Mumbai Police.
Wadhawan started banking with PMC Bank two years after its inception in 1984, through his family business of land development and construction.
The charge sheet also stated that in 2004, Wadhawans had deposited a big sum when the bank was facing acute cash crunch. Thereafter, Rakesh and his son Sarang through HDIL started banking with PMC Bank, taking up a large share in the bank’s entire transaction.
The agency claimed that Joy Thomas, one of the key accused in the case, also felt obligated towards Wadhawan.
“Thomas was working with PMC Bank from its inception. He had witnessed the instances of the bank being rescued by Wadhawan and his family members. Therefore he remained obligated to Wadhawan, which he repaid by intermittently sanctioning / disbursing credit facilities to HDIL group of companies from 2008 to 2019,” the charge sheet claimed.
It also stated that Wadhawan later inducted his childhood friend Waryam Singh into the bank board, who then went on to become its chairman.
A three-year-old girl was killed after Pratiksha Bhat, a native of Nepal was run over by a water tanker while it was reversing near an apartment on Sarjapur road in Bengaluru on Thursday. The young girl has been identified as a native of Nepal, Pratiksha Bhat. Pratiksha was playing nearby as the driver began reversing but he did not see her and the toddler was knocked down. Pratiksha's body was shifted to St John's Medical College Hospital for post-mortem procedures.
Sameer Wankhede - the former Nacotics Control Bureau zonal director who conducted the op that led to Aryan Khan's arrest in the drugs-on-cruise case - faces strict action for 'shoddy work' in the investigative process, officials said Friday afternoon. This comes shortly after son of Bollywood star Shah Rukh Khan, Aryan Khan, was given a clean chit by a special NCB team re-examining his case.
Popular singer Javed Ali will perform live in Bengaluru this Saturday at Phoenix Marketcity as part of the Alive India concert series. Ali is also known for songs in regional languages like Bengali, Malayalam, Odiya, Kannada Tamil, Telugu, and Punjabi. Ali's show in Bengaluru will be followed by another live performance in Chennai on Sunday, May 29.
Shiv Sena leader Sanjay Raut wife, Varsha, owns 729.30 grams of gold and ornaments valued at ₹39,59,500 and 1820 grams of silver worth ₹1,30,000. He owns one vehicle purchased in 2004 and two revolvers. Raut owns three parcels of agricultural land in Alibaug. Raut also owns three non-agricultural plots in Raigad currently priced at ₹2.20 crore. Raut also owns three residential properties in Dadar, Bhandup, and Aarey Milk Colony. His wife owns one in Dadar.
The Supreme Court on Friday sought a response from the Uttar Pradesh government on a petition filed by Samajwadi Party MLA Azam Khan challenging the bail condition imposed by the Allahabad high court related to Jauhar University. Senior advocate Kapil Sibal appeared before the Supreme for Khan, who took oath as an SP MLA on Monday, days after being released from jail on bail.