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PMC Bank scam: Shiv Sena MP Sanjay Raut’s wife joins ED probe
By Vijay Kumar Yadav | Hindustan Times, Mumbai
PUBLISHED ON JAN 04, 2021 04:57 PM IST
ED officials are to question her in connection with “suspicious” transactions that cropped up while the officials were scanning Pravin Raut’s transactions
PMC Bank: ED attaches Rs 72-cr assets of man whose wife transferred funds to Shiv Sena leader Sanjay Raut’s spouse
By Press Trust of India | Posted by Srivatsan K C | New Delhi
PUBLISHED ON JAN 01, 2021 11:09 PM IST
The central probe agency alleged that the man, Pravin Raut, had “siphoned off” Rs 95 crore worth of funds from the scam-hit bank in the garb of loan, out of which he paid Rs 1.6 crore to his wife, Madhuri Raut, who subsequently transferred Rs 55 lakh in two tranches to Varsha Raut, wife of Sanjay Raut, as an “interest-free loan.”
PMC Bank depositors on hunger strike in Mumbai, seek relief from RBI
By Vijay Kumar Yadav | Hindustan Times
UPDATED ON NOV 26, 2020 03:45 PM IST
They say if their grievances are still not redressed, they will be forced to go on an indefinite hunger strike
Scam-hit PMC Bank invites Expression of Interest from potential investors for reconstruction
By Press Trust of India | Posted by Nilavro Ghosh | Mumbai
PUBLISHED ON NOV 03, 2020 05:03 PM IST
Subsequent to commencement of the normal day-to-day operations, it will be open for the investors to convert the bank into a small finance bank by making an application to the RBI, the lender said.
PMC bank fraud case: ED attaches three Delhi hotels worth ₹100 crore
By Neeraj Chauhan | Hindustan Times, New Delhi
UPDATED ON SEP 19, 2020 06:40 AM IST
So far, properties – belonging to HDIL promoters Rakesh and Sarang Wadawan – worth Rs 360 crore have been attached by the agency, officials said.
PMC Bank fraud: HC rejects bail plea of bank director Jasvinder Singh Banwait
By Kanchan Chaudhari | Hindustan Times, Mumbai
UPDATED ON MAY 13, 2020 11:16 AM IST
On September 30, 2019, Mumbai Police’s economic offences wing (EOW) had registered an offence in connection with the fraud at the PMC Bank, accusing many of its directors of illegally extending huge loans to realty firm Housing Development and Infrastructure Limited (HDIL) and its group companies.
Supreme Court stays release of PMC Bank accused on Centre’s plea against Bombay HC order
By Murali Krishnan | Hindustan Times, New Delhi
UPDATED ON JAN 16, 2020 12:54 PM IST
The Bombay High Court had asked authorities to shift Rakesh and Sarang Wadhawan from jail to their residences under ‘house arrest’.
PMC Bank fraud: Retired high court judge to oversee recovery process
By Kanchan Chaudhari | Hindustan Times, Mumbai
UPDATED ON JAN 15, 2020 12:15 PM IST
PMC Bank fraud: ‘HDIL gave ₹70 cr to bank directors’ family’
By Jayprakash S Naidu, Mumbai
UPDATED ON DEC 04, 2019 12:52 AM IST
RBI plans to set up college of supervisors: Shaktikanta Das
By Press Trust of India | Mumbai
UPDATED ON NOV 18, 2019 09:15 PM IST
The RBI has already created a unified department of supervision and a unified department of regulation from November 1 this year, which will strengthen the oversight of commercial banks, cooperative banks and NBFCs, Shaktikanta Das has said.
PMC Bank fraud: Son of former MLA held in Mumbai; ninth arrest in case
By Vijay Kumar Yadav | Hindustan Times, Mumbai
UPDATED ON NOV 17, 2019 05:49 AM IST
Rajneet Singh, who was arrested from his Bhandup home, was in the recovery committee of PMC Bank, and multiple EOW officers, who did not wish to be named, said he was aware of the ‘bad status of all loan accounts of Housing Development and Infrastructure Limited (HDIL)’.
Centre considers raising insurance for deposits, more RBI scrutiny for banks
By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON NOV 11, 2019 09:34 AM IST
The plans come in the wake of the crisis at Mumbai-headquartered Punjab and Maharashtra Cooperative Bank (PMC) where customers have not been able to withdraw more than Rs 50,000 since late September when the central bank found violations of banking rules and under-reporting of bad loans.
RBI increases PMC Bank withdrawal limit to ₹50,000
By Revati Krishna | Hindustan Times, Mumbai
UPDATED ON NOV 05, 2019 11:52 PM IST
PMC Bank was put under regulatory restriction on September 23 after authorities discovered that two-thirds of the bank’s loan exposure was to the bankrupt HDIL
74-yr-old PMC Bank depositor dies of cardiac arrest
By Revati Krishna, Mumbai
UPDATED ON NOV 05, 2019 08:50 AM IST
No need to escalate one case to reflect everything to do with IBC,says Nirmala Sitharaman
By Press Trust of India | Washington
PUBLISHED ON OCT 20, 2019 05:24 PM IST
Finance Minister was responding to a question on a particular recent case which many allege reflects some major loopholes in the Insolvency and Bankruptcy Code (IBC).
83-year-old PMC Bank depositor dies; had no funds for heart surgery
By Revathy Krishna | Hindustan Times, Mumbai
UPDATED ON JUL 12, 2020 10:07 PM IST
Mumbai Police’s economic offences wing (EOW) has found evidence of a Rs 4,355-crore fraud at PMC Bank.
News updates from Hindustan Times at 9 PM: Nirmala Sitharaman slams ex-PM Manmohan Singh at Columbia University and all the latest news at this hour
By HT Correspondent | Hindustan times, New Delhi
UPDATED ON OCT 18, 2019 08:54 PM IST
Here are today’s top news, analysis and opinion curated for you at 9 PM. Know all about the latest news and other news updates from Hindustan Times.
In PMC bank case, HDIL promoters Rakesh, Sarang Wadhwan sent to ED custody till Oct 22
By Charul Shah | Hindustan Times, Mumbai
UPDATED ON OCT 18, 2019 07:33 PM IST
The special PMLA court on Friday remanded Rakesh Kumar Wadhawan and his son Sarang Wadhawan accused in PMC bank fraud case to ED custody till October 22.
News updates from Hindustan Times: SC refuses to entertain plea by PMC account holders for lifting restrictions on cash withdrawals and all the latest news at this hour
By HT Correspondent | Hindustan Times, new Delhi
UPDATED ON OCT 18, 2019 01:12 PM IST
Here are today’s top news, analysis and opinion curated for you. Know all about the latest news and other news updates from Hindustan Times.
‘Approach high court’: Supreme Court on PMC Bank account holders’ plea
By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON OCT 18, 2019 12:40 PM IST
Solicitor General Tushar Mehta said the government is aware of the seriousness of the situation and the Enforcement Directorate is taking appropriate action against the culprit.
On Sitharaman’s barb, Manmohan Singh says ‘no comment’. Then a dart
By HT Correspondent | Hindustan Times, Mumbai
UPDATED ON JUL 12, 2020 06:22 AM IST
Maharashtra Assembly Election 2019: Dr Manmohan Singh also delivered a sharp comeback to finance minister Nirmala Sitharaman who earlier this week said that state-run banks in India had their “worst phase” when Dr Singh was prime minister and Raghuram Rajan, the RBI Governor.
PMC Bank’s former director Surjit Singh Arora fifth to be arrested in fraud
By HT Correspondent | Hindustan Times, Mumbai, Mumbai
UPDATED ON OCT 17, 2019 08:55 AM IST
Senior EOW officials said Arora, 65, had been named by former managing director of PMC Bank, Joy Thomas.
SC to hear plea on insurance for co-op bank customers after PMC bank fraud
By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON OCT 17, 2019 02:53 AM IST
The plea by petitioner Bijon Kumar Mishra was mentioned before a bench led by justice NV Ramana for urgent hearing, a plea that was accepted.
PMC Bank customers demand Rs 5000 crore bailout package from PM Narendra Modi
By Revati Krishna | Hindustan Times, Mumbai
UPDATED ON OCT 16, 2019 07:23 PM IST
The Supreme Court on Wednesday agreed to an urgent hearing on a plea seeking directions for interim protective measures for insuring PMC depositors.
Depositor of scam-hit PMC Bank ends life, another dies of heart attack
By Press Trust of India | Mumbai
UPDATED ON OCT 16, 2019 07:17 AM IST
The bank has been put under restrictions by the RBI following the discovery of a Rs 4,355 crore scam. Deposit withdrawals have been capped at Rs 40,000 over a six-month period, causing panic and distress among depositors.
Ex-PMC Bank chairman bought Rs 400-crore biz hotel in Amritsar
By Vijay Kumar Yadav | Hindustan Times, Mumbai, Mumbai
UPDATED ON OCT 15, 2019 08:22 AM IST
An investigation by Mumbai Police’s Economic Offences Wing also revealed that the former chairman of the PMC Bank, Waryam Singh, has properties in Haryana, Himachal too.
After FM’s call, withdrawal limit for PMC Bank customers raised to Rs 40,000
By HT Correspondent | Hindustan Times, New Delhi
UPDATED ON OCT 14, 2019 09:08 PM IST
PMC bank’s Joy Thomas is also Junaid Khan, owner of 10 Pune properties: Cop
By HT Correspondent | Hindustan Times, Mumbai
UPDATED ON OCT 14, 2019 04:24 PM IST
Joy Thomas had acquired these properties after he changed his name to Junaid Khan, the alias that he had acquired to marry his one-time personal assistant, said a senior police officer
‘We understand justified worries...’: FM speaks to RBI gov on PMC bank
By Press Trust of India | New Delhi
UPDATED ON OCT 12, 2019 08:04 PM IST
The bank was put under “directions” by the Reserve Bank of India (RBI) last month due to weak financial health, wherein the central bank has capped the deposit withdrawals at Rs 25,000.
RBI fixes cooperative banks’ daily reporting system post PMC collapse
By Indo Asian News Service | Mumbai
UPDATED ON OCT 12, 2019 11:36 AM IST
In a circular addressed to chief executives of all cooperative banks, the RBI has asked them to replace the existing system of email-based reporting at the branches to a web-based central system.
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