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PMC Bank: Custody of Wadhawans and Waryam Singh extended to 14 Oct
National

PMC Bank: Custody of Wadhawans and Waryam Singh extended to 14 Oct

Agency News

Mumbai, 09 Oct 2019:Police custody of Housing Development and Infrastructure Ltd (HDIL) promoters Rakesh and Sarang Wadhawan as well as former chairman of Punjab and Maharashtra Cooperative (PMC) bank Waryam Singh has been extended till 14 October.

All three were arrested last week by Mumbai Police's Economic Offences Wing for their alleged involvement in a ₹4,355-crore fraud case at PMC Bank.

Former managing director of PMC Bank Joy Thomas will be in EOW's custody till 17 October. A special court of Mumbai Police's EOW has extended custody of all the three for further investigation into the case. EOW officer senior inspector Kishor Parab told the court that the police have discovered "falsification of many documents during the course of interrogation of the accused".

Meanwhile, hundreds of angry PMC Bank depositors protested outside the court, hurling water bottles at defense lawyer's vehicle.

This is the second time Mumbai's Esplanade court extended custody of the Wadhawans on EOW's request. Given that the size of the scam is large, a detailed investigation is required, EoW had told the court earlier while seeking remand for the Wadhawans.