Lagatar24 Desk
Mumbai, Feb 3: Daljit Singh Bal, the former director of the Punjab and Maharashtra Cooperative (PMC) Bank, was arrested in Bihar by the Mumbai police’s Economic Offences Wing (EOW), an official said on Thursday.
Daljit Singh Bal, who is wanted in the PMC Bank fraud case, was apprehended near the India-Nepal border in Raxaul, east Champaran, according to the official.
The Mumbai police’s EOW, which is investigating the multi-billion-dollar fraud, has issued a lookout notice for Bal and ten former bank directors.
He will be under custody by this evening, informed Mumbai police.
One of the prime accused of PMC Bank Scam matter, Daljit Singh Bal – a part of the Board of Directors – arrested by the Immigration Team from Bihar-Nepal border last evening. Economic Offences Wing(EOW), Mumbai team has left for Bihar to take him into their custody: Mumbai Police
— ANI (@ANI) February 3, 2022
The fraud at PMC Bank was discovered in September 2019 after the RBI issued orders and appointed an administrator to the urban co-operative bank. It was uncovered that the bank had reportedly constructed bogus accounts to disguise approximately Rs 6,700 crore in loans to the nearly bankrupt HDIL.
Senior bank executives and HDIL promoters have been charged by the EOW and the Enforcement Directorate (ED).
