Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.

PMC Bank case: HDIL chiefs threatened to sink the bank, reveals suspended MD Joy Thomas

Copy URL
Embed

In an exclusive interview with Mumbai Mirror's Alka Dhupkar and Makarand Gadgil, Punjab & Maharashtra Co-operative Bank's suspended MD Joy Thomas said that the bank’s chairman, Waryam Singh, knew that it was heading for a collapse and HDIL chiefs threatened to sink the bank. On a day when two directors — Rakesh Wadhawan and Sarang Wadhawan — of real estate company Housing Development Infrastructure Limited were arrested in the PMC Bank fraud case, the bank’s suspended managing director, Joy Thomas, on Thursday feared being made a scapegoat. He recommended that HDIL’s assets be sold in phases to recover the loan and end depositors’ nightmare.

Join market mavens on 22 Nov to discuss how India can beat economic slowdown & reach $5 Trillion economy mark at ETMarkets Global Summit. Book your seats today
16440views
Have something to say? Post your comment

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service