New Delhi: Mumbai’s Esplanade court on Monday sent all the three accused in Punjab and Maharashtra Co-operative bank case to police custody till October 16, stated news agency ANI. Housing Development Infrastructure Limited (HDIL) Directors Rakesh Wadhawan and Sarang Wadhawan, and former PMC bank chairman Waryam Singh are the three accused in the PMC bank case.
It must be noted that the time period of the accused under police custody has been extended to two more days from October 14 to October 16. According to a report, an investigating officer asked the court’s permission for the extension in dates to enable them to extract more evidence in the bank fraud case.
Meanwhile, just before the accused were brought to the court on Monday, the depositors of PMC Bank protested in front of Esplanade court demanding that no bail should be granted to the accused Sarang and Rakesh Wadhawan. These two accused were already arrested in a loan default case on October 3.
Amid the rising protests from PMC account holders, Union Finance Minister Nirmala Sitharaman on Saturday tweeted, “Spoken to governor @RBI on the PMC Bank matter. He assured me that clients & their concerns will be kept on top priority. I wish to reiterate that @FinMinIndia will ensure that customers’ concerns are comprehensively addressed. We understand the justified worries of the customers.”
It must be noted that the RBI had on October 3 granted relief to account holders and depositors of PMC Bank by enhancing the withdrawal limit from Rs 10,000 to Rs 25,000. Initially, the RBI had restricted the withdrawal limit to a maximum of Rs 1,000 and later enhanced it to Rs 10,000.