PMC Bank scam: Mumbai Police arrest absconding former director in Bihar

Photo for representational purpose. Pic/ istock

Former director of Punjab and Maharashtra Cooperative (PMC) Bank Daljit Singh Bal was apprehended by the Mumbai police's Economic Offences Wing (EOW) in Bihar, an official said on Thursday.

Bal, who is wanted in the PMC Bank scam case, was arrested at Raxaul in east Champaran close to the India-Nepal border, the official said.

The EOW of the Mumbai police, which is probing the multi-crore scam, had issued a lookout notice against Bal and 10 former directors of the bank.

Bal will be taken into custody by the Mumbai Police by this evening, he said.

The fraud at PMC Bank came to light in September, 2019 after the RBI placed directions on the urban co-operative bank and placed an administrator. It was discovered that the bank had allegedly created fictitious accounts to hide over Rs 6,700 crore in loans extended to the almost-bankrupt HDIL.

The EOW and the Enforcement Directorate (ED) have registered cases against senior bank officials and HDIL promoters.

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