EOW had earlier arrested Housing Development and Infrastructure Limited (HDIL) Rakesh and Sarang Wadhawan on Thursday and on Friday they arrested Joy Thomas who is the managing director of PMC bank.
Wanted accused Waryam Kartar Singh (68) who is ex-chairman of Punjab and Maharashtra Cooperative (PMC) Bank has been arrested by the Economic Offence Wing (EOW) from Mahim Church on Saturday evening.
In the same case, EOW had earlier arrested Housing Development and Infrastructure Limited (HDIL) Rakesh and Sarang Wadhawan on Thursday and on Friday they arrested Joy Thomas who is the managing director of PMC bank.
Sources said before arrest Waryam Singh wanted to surrender himself and had sent a letter to Parag Manere who is a Deputy Police Commissioner of EOW (Banking). In his letter, he mentioned "I Waryam Singh ex-chairman of Punjab & Maharashtra Cooperative Bank will be surrendering myself to the Economic Offence Wing (Banking) today evening. I am willing to cooperate in my best capacity."
The alleged accused Waryam Singh was absconding after the FIR registered against PMC Bank in the fraud case of Rs 4335.46 crore. HDIL group of companies is the largest borrower of PMC Bank and they have failed to clear dues to the tune of Rs 4335.46 crore since 2008 until 2019. Joy Thomas, MD and others reported false record accounts for RBI to suppress the material position of the loan account of the HDIL group of companies.
According to EOW sources, "Our officers raided Waryam Singh's flat at Stellar Towers, Lokhandwala Complex, Andheri (W) on Saturday morning, but we didn't find him. Later on a tip-off, we found him at Mahim Church. We detained him and also interrogated him and later we arrested him."
Absconding Accused
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The accused Singh was absconding after the FIR registered against PMC in the fraud case.
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| Joy Thomas, MD and others reported false record accounts for RBI to suppress loan A/Cs. |
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