Investigators say all accused feigning ignorance about preferential treatment to HDIL though probe and forensic audit suggest otherwise
Jagdish Mookhey, Trupti Bane and Mukti Bavisi
The Economic Offences Wing (EOW) of Mumbai Police arrested three more former directors of Punjab and Maharashtra Co-operative (PMC) Bank in the alleged fraud of over Rs 5,000 crore on Tuesday, bring the number of arrested in the matter to 12, including real estate company HDIL's directors Rakesh and Sarang Wadhawan.
The three directors held on Tuesday were identified as Jagdish Mookhey, Trupti Bane and Mukti Bavisi.
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Mookhey was a member of the bank's Audit Committee for the periods of 2005-2010, 2010-2015 and 2015-2020. Whereas, Bavisi was a member of the Loans and Advances Committee for the periods 2011-2015 and 2015-2020. Bane was a member of Recovery Committee for the period 2010-2015 and of the Loans and Advances Committee for the period of 2015-2020.
All directors played an important role in overlooking financial irregularities.
"This is not only an act of willful omission but of being part of a conspiracy. Investigation has revealed that minutes of meetings were tempered. All those arrested so far give the same excuse that the loans and overdraft facilities provided to HDIL were never brought before the board," a senior officer said.
"The investigation and the primary forensic report clearly indicate that the board members were clearly aware of the financial irregularities. However, a detailed forensic audit report is awaited," the officer added.
12
Total no. of arrests
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