New Delhi: Hours after suspended Managing Director of the Punjab and Maharashtra Co-operative (PMC) Bank Joy Thomas was sent to police custody till October 17, the Economic Offences Wing (EOW) of the Mumbai Police on Saturday seized his accounts.

A day after his arrest, Mumbai’s Esplanade Court on Saturday sent Thomas to police custody till October 17 in connection with the alleged Rs 6,500 crore scam at the bank. The court, however, allowed home-cooked food and medicine to Thomas inside the jail.

On Friday, Thomas was arrested by the EOW of Mumbai Police in connection with the fraud case. The development comes a day after the EOW arrested Housing Development Infrastructure Limited (HDIL) Directors Sarang Wadhawan and Rakesh Wadhwan. They were arrested after found accused of loan default in connection with the PMC Bank case. Both the directors were called for interrogation and were later arrested when they failed to cooperate in the investigation. “We have arrested the two accused and their interrogation is on,” EOW chief Rajvardhan Sinha had said.

Prior to this, Thomas had on September 28 admitted that the bank did not report the financial exposure to the Reserve Bank of India (RBI) for over six years. Meanwhile, HDIL promoters Rakesh and Sarang Wadhawan were sent to police custody till October 9.

The duo was arrested after they failed to cooperate in the investigation. A total of 10 out of 44 accounts that led to the bank falling in debt were linked to HDIL. Personal accounts of the accused were among those 10 accounts.

According to the police, PMC bank officials gave loans to HDIL between 2008 and 2019 despite no repayment of the previous loans. The FIR was registered under various sections of the Indian Penal Code (IPC), including criminal breach of trust, cheating, and forgery.

Earlier, the Enforcement Directorate had registered a money laundering case against the board members of the PMC Bank and the promoters of HDIL in connection with multi-crore loan default case. The probe agency had also raided six locations in Mumbai and adjoining areas linked to the former chairman of the PMC bank and promoters of HDIL after a criminal complaint was filed under the Prevention of Money Laundering Act (PMLA ) by the central agency. ED sources said that the raids are aimed at gathering additional evidence.

(With inputs from ANI)