PMC Bank Scam: Absconding Former Director Daljeet Singh Bal Arrested From Bihar’s Raxaul

The fraud at PMC Bank came to light in September 2019 after the RBI placed directions on the urban co-operative bank and placed an administrator. The EOW of the Mumbai Police, which is probing the multi-crore scam, had issued a lookout notice against Diljeet Singh Bal and 10 former directors of the bank.

Raxaul: The Economic Offences Wing (EOW) of Mumbai police apprehended former director of Punjab and Maharashtra Cooperative (PMC) Bank Daljit Singh Bal in Bihar for his alleged involvement in the Rs 4500 crore scam, an official said on Thursday. Bal was arrested from Raxaul in East Champaran district, close to the India-Nepal border on Wednesday evening. The EOW of the Mumbai Police, which is probing the multi-crore scam, had issued a lookout notice against Bal and 10 former directors of the bank.

An official to news agency PTI that Bal will be taken into custody by the Mumbai police by this evening. A team of the Mumbai EOW is on its way to Bihar to bring Bal to Mumbai on transit remand.

The fraud at PMC Bank came to light in September 2019 after the RBI placed directions on the urban co-operative bank and placed an administrator.

It was discovered that the bank had allegedly created fictitious accounts to hide over Rs 6,700 crore in loans extended to the almost-bankrupt HDIL. The EOW and the Enforcement Directorate (ED) have registered cases against senior bank officials and HDIL promoters.

(With PTI inputs)