Delegation of 15 depositors of PMC Bank to meet Manmohan Singh

Mumbai: A delegation of 15 depositors of Punjab and Maharashtra Co-operative (PMC) Bank will on Thursday meet former prime minister Dr Manmohan Singh to discuss their grievances and request his intervention in the matter in the bank scam case.

Earlier in the day, former managing director of PMC Bank, Joy Thomas was sent to judicial custody for 14 days by Mumbai's Esplanade court for his alleged involvement in the scam.

Apart from Thomas, former PMC bank director S Surjit Singh Arora was sent to police custody till October 22 by the judicature.

This comes just days after two PMC Bank customers died within 24 hours, including one Fattomal Punjabi and a 51-year-old former employee of Jet Airways named Sanjay Gulati. Their families have alleged that they were "under stress" over the crisis in PMC Bank.

Last month, the RBI restricted the activities of the PMC Bank for six months and asked it not to grant or renew any loans and advances, make any investment or incur any liability, including borrowing of funds and acceptance of fresh deposits.

The Enforcement Directorate (ED) has seized and identified movable and immovable assets worth more than Rs 3,830 crore owned by Housing Development and Infrastructure Limited (HDIL) in connection with the case.

According to the police, PMC bank officials gave loans to HDIL between 2008 and 2019 despite no repayment of the previous loans.