Source – latestly.com The Supreme Court Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative Bank (PMC) scam, from Mumbai’s Arthur Road Jail to their residence. A bench headed by Chief Justice S A Bobde took note of
Source – firstpost.com Mumbai: The Bombay High Court set up a three-member committee on Wednesday for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank. A division bench of Justices RV More and SP Tavade said
Source – indianexpress.com The Bombay High Court on Thursday dismissed petitions filed by depositors of the Punjab and Maharashtra Cooperative (PMC) Bank seeking removal of restrictions on withdrawals imposed by the Reserve Bank of India (RBI), following crisis in the bank over the last few months. The current withdrawal limit for depositors is Rs 50,000,
Source – firstpost.com Mumbai: Senior officials of scam-hit PMC Bank used special codes to hide hundreds of dummy loan accounts of HDIL, to which the bank had over 73 percent of its loan exposure, the Reserve Bank informed the Bombay High Court on Tuesday. In an affidavit, the RBI also said of the 1,800 employees of
