PMC scam: Viral pic of accused Rajneet Singh, Governor raises eyebrows

Viral photos of the Maharashtra governor with former BJP legislator and his son Rajneet Singh, who is an accused in the PMC Bank scam, have aroused suspicion that he was being shielded in the case. While the NCP has alleged that EOW is working under the BJP's pressure, depositors demand to know who is protecting him.

Photographs of the Maharashtra governor with former BJP MLA Sardar Tara Singh and his son Rajneet Singh, an accused in the PMC Bank scam, have been doing the rounds on Facebook, arousing suspicion that the legislator's son is being shielded in the fraud case.

Tara Singh and Rajneet, former director of Punjab & Maharashtra Co-operative Bank, met Governor Bhagat Singh Koshyari on the eve of Diwali, which has also been confirmed by the governor's office. "He [Tara Singh] came to greet the governor, and as he is a former MLA he was allowed. We didn't know his son was there too," a spokesperson at the governor's office told mid-day.

In pic 2: Rajneet Singh, PMC Bank accused, and his father Tara Singh (right) met Governor Bhagat Singh Koshyari (centre) on the eve of Diwali

Though the Economic Offences Wing (EOW) had on Saturday arrested Rajneet Singh, the agency had told the court in October that all PMC bank directors, including Rajneet, had gone underground and their mobile phones were switched off. However, mid-day checked Rajneet's Facebook profile and found that he had been active on social media ever since the bank fraud surfaced.

Rajneet was part of PMC's loan recovery committee for 20 years, but he never red-flagged the fraudulent transactions at the bank. Sources said he was also close to the Wadhawans, HDIL promoters.

RBI auditors may face dept inquiry

The EOW may recommend departmental inquiry against the Reserve Bank of India's auditors."The preliminary forensic audit reports reveal that there was no criminal negligence; the auditors were just not capable enough to conduct these audits," an officer from the EOW said. The preliminary report also shows that Rakesh and Sarang Wadhwan took loans without providing any security. The scam amount has now shot up to over R5,000 crore from R4,355 crore.

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