The Supreme Court on Thursday stayed an order passed by the Bombay High Court for releasing Rakesh Wadhawan and Sarang Wadhawan, both promoters of Housing Development and Infrastructure Ltd (HDIL) in the multi-crore Punjab & Maharashtra Cooperative (PMC) Bank fraud.
A bench...
The Bombay High Court on Thursday reserved its order on a public interest litigation (PIL) that was seeking disposal of properties belonging to defaulter Housing Development Infrastructure Ltd (HDIL).
According to a tweet from Bar & Bench (@barandbench), the HC bench of Justice...
The Reserve Bank of India (RBI) has virtually admitted that it was 'cheated' by the management of the scam-hit Punjab & Maharashtra Cooperative (PMC) Bank.
Especially, RBI says PMC Bank had submitted fraudulently manipulated data to the central bank for sample checks, but the sample...
The preliminary forensic audit report of Punjab and Maharashtra Cooperative Bank (PMC Bank) submitted by Grant Thornton, a leading auditor firm commissioned by the Reserve Bank of India (RBI), exposes rampant violation of loan sanctioning norms by the Bank. The economic offences wing (EOW) of...
The Economic Offences Wing (EOW) of Mumbai police is conducting a search at the residence of Rajneet Singh, former director of Punjab and Maharashtra Cooperative (PMC) Bank. On Sunday, the Esplanade Court granted the police his custody till 25th November, following which the EOW carried out...
