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    Another auditor arrested in PMC Bank scam

    Synopsis

    This is the eighth arrest in the case. Anita Kirdat (35), a 'concorrent auditor' of the bank, was arrested on Tuesday. Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions. Kirdat audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes.

    PTI
    MUMBAI: The Economic Offences Wing (EOW) of Mumbai Police has arrested an auditor in connection with the alleged Rs 4,355 crore scam at the Punjab & Maharashtra Cooperative (PMC) Bank, an official said on Wednesday.

    This is the eighth arrest in the case.

    Anita Kirdat (35), a 'concorrent auditor' of the bank, was arrested on Tuesday, a senior police official said.

    Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions, he said.

    Kirdat audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes.

    She was called for questioning and later arrested, the official said, adding that she was remanded in EOW custody by a local court till November 18.

    On Monday, the EOW had arrested two statutory auditors, Jayesh Sanghani and Ketan Lakdawala, in connection with the scam. They are suspected to have played a key role in covering up the irregularities in the bank.

    The EOW suspects a nexus between some of the accused and realty group HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to appointment of administrator and restrictions on withdrawal of funds.

    Earlier, the EOW had arrested three top bank officials and two promoters of HDIL -- Rakesh and Sarang Wadhawan -- in the scam.
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    17 Comments on this Story

    Vikrant333 days ago
    PMC bank most of the account were npa in 2008 itself and there are many more accounts which are npa which needs to be investigated
    Arukapalli Ananta342 days ago
    Arresting top officials, statutory auditors, concurrent auditors etc etc - all these actions are just eye-wash actions but will not serve the purpose of the depositor in getting back his money. As the saying goes "PREVENTION IS BETTER THAN CURE". Steps should have been taken for good governance of the bank from the beginning from various authority like Board, RBI, CMD etc., not after the damage is done and crores of common man''s money is lost. Because this is not the first incident. There were so many incidents including PNB''s mega scam. But, in all these cases only post damage actions are taken just to divert the attention of the public and without any use.
    Vedantham Sheshashar343 days ago
    Okay, simultaneously take action to recover the funds from HDIL. Get the money back first.
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