PMC Bank scam: EOW summons former director for interrogation, seeks details on lender's loan disbursement process

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police on Wednesday called Surjit Singh Arora, one of the former directors of the scam-hit Punjab & Maharashtra Cooperative Bank, for questioning. Arora was being questioned by the Special Investigation Team (SIT) of the EOW at the city police headquarters, an official said. [caption id=“attachment_7400291” align=“alignleft” width=“380”] Representational image. News18[/caption] Arora was a director of the PMC Bank and was also on its loan committee, he said. “We are trying to get certain details about the bank’s loan disbursement process,” the official said. Earlier in the day, a court here remanded promoters of HDIL group Rakesh Wadhawan and Sarang Wadhawan and Punjab and Maharashtra Cooperative (PMC) Bank’s former chairman Waryam Singh in judicial custody in connection with the scam at the bank. The three accused were produced before Metropolitan Magistrate SG Shaikh as their custody ended on Wednesday. The magistrate remanded them in judicial custody till 23 October. The EOW has already arrested Rakesh, Sarang Singh and former managing director Joy Thomas after the scam came to light. The EOW earlier this month registered a case against the Wadhawans and top officials of PMC Bank for allegedly causing losses to the tune of Rs 4,355.43 crore to the bank. After the scam was unearthed at the bank, which has deposits of over Rs 11,000 crore, the Reserve Bank of India (RBI) last month appointed an administrator over it, and capped withdrawals at Rs 1,000.