Scam-hit PMC Bank underreported HDIL statements to RBI since 2014
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The Mumbai Police has revealed that the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank, which has over 16 lakh account holders across six states in the country, underreported HDIL statements to RBI since 2014. The charge sheet filed by police says former MD Joy Thomas gave loans to HDIL promoter Rakesh and Sarang Wadhawan on multiple occasions through treasury chest directly without making any records.