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HDIL promoters

Dec 06, 2019, 03.49 AM IST

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HDIL PROMOTERS

DHFL promoters gave personal guarantees to Rs 80,000-crore loans

A DHFL spokesperson declined comment on the guarantees given by the promoters.

DHFL promoters gave personal guarantees to Rs. 80,000-cr Loans

DHFL became the first financial services company on Monday to be admitted to t...

DHFL promoters gave personal guarantees to Rs. 80,000-cr Loans

DHFL became the first financial services company on Monday to be admitted to t...

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    "The government stands behind the PMC Bank depositors. I have spoken with the MSC Bank director and asked him to consider a merger of the two banks to provide relief to the depositors," Patil told mediapersons here this afternoon. He assured that the state's apex cooperative banking entity.

    In their pleas, the petitioners alleged that the RBI's decision (to put restrictions on cash withdrawal) was irrational, arbitrary and violative of the fundamental rights of common public.

    According to the police, Rakesh and Sarang Wadhawan of real estate firm HDIL, who are among the accused in the case, had allegedly tampered with the bank’s core banking solution to operate 44 password-protected accounts. Overdrafts disbursed by the bank to these accounts eventually made it to the accounts held by HDIL or its promoters, the police had alleged.

    The PMC Bank has been put under restrictions by the RBI, after an alleged Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1,000, causing panic and distress among depositors. At least eight depositors, who had high quantum of money stuck with the bank, died in the last couple of months, including one who committed suicide.

    Several Congress workers greeted the former Union minister after he stepped out of the prison.

    The India Trade Promotion Organisation (ITPO), which manages the Pragati Maidan, will undertake a mega project to redevelop the land into a world class International Exhibition and Convention Centre, Information and Broadcasting Minister Prakash Javadekar said.

    The Economic Offences Wing (EOW) of the Mumbai Police had arrested three PMC Bank directors- Jagdish Mookhey, Mukti Bavisi and TruBane- on Tuesday. Of them, Mookhey and Bane were produced before chief metropolitan magistrate court, which remanded them in police custody till December 11.

    A court has allowed the RBI- appointed administrator for PMC Bank to sell two airplanes and a yacht belonging to HDIL group promoters Rakesh Wadhawan and his son Sarang.

    Addressing media persons, Congress spokesperson Pawan Khera alleged that public sector companies like BSNL and MTNL which were making profits under the previous UPA 1 and 2 governments are now running at losses while the government is promoting and giving relief to private sector companies.

    The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.

    The minister said steps are being taken to seize properties of promoters of the PMC Bank, auction such properties and repay depositors with the money obtained. Sitharaman said the Rs 50,000 withdrawal ceiling for depositors continues but for scenarios like marriage, education, livelihood and other "hardships", the withdrawal limit if Rs 1 lakh.

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