Mumbai: The Enforcement Offences Wing of the Mumbai Police on Friday filed a chargesheet in Esplanade Court against five accused linked to the multi-crore Punjab Maharashtra Bank scam case.
EOW officers were reportedly seen inside the premises of the court during afternoon.
EOW's 32,959 page chargesheet is the first document from the agency in the case. It names HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, former chairman Waryam Singh, former managing director Joy Thomas, and former director Surjit Singh Arora as accused. The chargesheet has statements from 340 witnesses including account holders of the bank.
The document reportedly also includes key details linked to the PMC bank scam such as forensic evidences, fund diversion activities of key accused Wadhwans. The document also details transactions done including properties purchased by accused bank officials. It also mentions how bank officials received kickbacks from HDIL Promoters.
Banking regulator RBI was hoodwinked by an alleged mechanism. The chargesheet says that 21,000 bank accounts were opened to give a false impression on the state of bad loans and NPAs of the bank. This amount was further given to HDIL and its group companies.
Notably, a separate charge sheet in the bank scam case was filed by the Enforcement Directorate (ED) a few days ago.
In September, the Reserve Bank of India (RBI) had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. The RBI had asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits.
Subsequently, the RBI capped the withdrawal limit for the PMC Bank depositors to Rs 1,000 which has gradually been increased to Rs 50,000.