As EOW call in Joy Thomas's second wife Yasmin Khan to record her statement, police boss Sanjay Barve assures depositors that central bank's alleged complicity will also be probed
Police chief Sanjay Barve (seated, in blue suit) interacts with PMC Bank depositors on Wednesday
The Economic Offences Wing (EOW) of Mumbai Police on Wednesday arrested one of the directors of the Punjab and Maharashtra Co-operative (PMC) Bank, S Surjit Singh Arora, 65, after his involvement in the scam surfaced during the investigation. According to sources, for the past four to five years, Arora received crores of rupees from the real-estate company HDIL. This is the fifth arrest in the case.
On the other hand, Mumbai Police Commissioner Sanjay Barve met 30 to 40 depositors at his office and assured them of a speedy investigation. "Financial transactions suggest that Arora received amounts running into crores from HDIL. He did not give satisfactory answers during questioning and as such had to be arrested. Apart from understanding the trail of money, we need to know if he is also a beneficiary in the scam," a senior officer told mid-day. The exact amount received by Arora would be clear once the forensic audit report comes.
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PMC Bank director S Surjit Singh Arora
Top cop meets depositors
On the other hand, Commissioner of Mumbai Police, Sanjay Barve met PMC Bank depositors on Wednesday and assured them of speedy justice. During the interaction, Barve told one of the depositors that the role of regulating bodies, including the Reserve Bank of India is under the scanner. The depositor had specifically asked him about the RBI's role.
Responding to queries over the role of auditors and why no action has been taken against the RBI, Barve said, "We are looking into why and how the auditors didn't notice the irregularities and how the entire scam went unnoticed despite the presence of regulating bodies, including the RBI."
Harbans Singh along with other protesters addresses the media after meeting the police commissioner on Wednesday. Pic/Sneha Kharabe
PMC bank depositors from across the city visit the commissioner's office every day. Barve added that property worth 80% of the scam has been attached. He added that he is in touch with the RBI-appointed administrator to bring the case to a conclusive end.
"We understand that people have lost their hard-earned money, their businesses are suffering. And that withdrawal limit of R40,000 is not enough, but we are doing our best," he said. In addition, Lookout Circulars have been issued against all other PMC directors to prevent them from fleeing.
Yasmin Khan records statement
The Special Investigation Team (SIT) of the EOW also recorded the statement of Yasmin Khan, 42, for several hours. PMC Bank chief Joy Thomas married Khan in 2005 by converting to Islam, when he also changed his name to Junaid Khan. "We have recorded her statement and she has been asked to be present before the investigating officer whenever required," an officer said.
Thomas purchased several properties jointly named after him and his wife. These may be seized by probe agencies. According to sources, Khan came with several documents related to nine flats and a boutique. Her statement is going to lead to Thomas being questioned about a property in Pune. However, the SIT is not entirely satisfied with her statement so far.
ED seeks Wadhawans' custody
The Enforcement Directorate (ED) on Wednesday sought custody of other accused Waryam Singh, Sarang Wadhawan, and Rakesh Wadhawan who are in judicial custody till October 23. An application was moved before the PMLA court.
80 per cent
Proportion of the scam for which property has been seized
HDIL wants to sell assets to repay loans
HDIL promoters Rakesh and Sarang Wadhawan, through a letter dated October 16, have requested agencies to sell off their attached assets and start repaying PMC Bank loans. The promoters wrote to ED, EOW, Ministry of Finance, Reserve Bank of India's Governor and Deputy Governor on Wednesday. The promoters denied all accusations of wrongdoing and gave "unconditional consent for the appropriation of the money received from the sale of assets". The ED has attached assets such as private aircraft, yachts, and several luxury cars.
SC to hear plea on interim measures
The Supreme Court will, on Friday, hear a plea seeking directions for interim protective measures to insure around 15 lakh customers whose money is blocked in PMC Bank. The plea, filed by Delhi-based Bejon Kumar Misra, said the Centre and RBI should be directed to ensure complete insulation and insurance of deposited money in co-operative and nationalised banks, by enacting an appropriate measure of 100 per cent insurance coverage of deposited amount.
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