PMC Bank scam claims fifth life; former director's police custody extended till October 24
73-year-old Bharti Sadarangani died of heart attack in Mumbai. Her son-in-law claimed that she was stressed about the future of her daughter as she had deposited her life savings of Rs 2.5 crore in PMC bank.
Mumbai: The Punjab and Maharashtra Cooperative Bank (PMC) fraud has claimed a fifth life. One of the depositors, Bharti Sadarangani, passed away on Monday due to a heart attack.
73-year-old Sardarangani's son-in-law, Chandan Chotrani said that she was under stress as her daughter's savings of Rs 2.25 crore was deposited in PMC bank.
The stress caused by the bank fraud has allegedly taken its toll on four other depositors. The four other victims are Sanjay Gulati and Nivedita Bijlani from Andheri in Mumbai, and Murlidhar Dharra and Fattomal Punjabi from Mulund. Among them, Nivedita committed suicide by taking sleeping pills and the other three died of a heart attack.
Surjit Singh Arora's police custody extended till October 24
Meanwhile, a Mumbai court on Tuesday has extended the police custody of the former director of PMC Bank, S Surjit Singh Arora till October 24 in the connection with the scam.
Arora was arrested by the Economic Offence Wing (EOW) of Mumbai Police on October 16 in connection with the case.
In another development that took place today, advocate Ajay Misar was appointed as the special public prosecutor to represent special Economic Offences Wing in Punjab and Maharashtra Cooperative Bank (PMC) fraud case.
Last week, 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.
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.
Scores of depositors of the scam-hit Punjab and Maharashtra Cooperative (PMC) Bank staged a protest here demanding the removal of the restriction on cash withdrawal imposed by the Reserve Bank of India (RBI), which is currently capped at Rs 40,000 for six months.
The organisation had initially capped the deposit withdrawal at Rs 10,000 but later raised it to Rs 40,000.
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 after an alleged scam of Rs 4,355 crore came to light.
(With ANI inputs)