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


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

PMC bank scam: EOW of Mumbai Police opposes anticipatory bail pleas of 2 directors

Parmeet Sodhi and Surjit Singh Narang had filed anticipatory bail applications before additional sessions judge S T Soor here.

PTI|
Updated: Nov 08, 2019, 10.24 PM IST
0Comments
BCCL
Untitled design (96)
MUMBAI: The Economic Offences Wing (EOW) of Mumbai Police on Friday opposed pre-arrest bail pleas of two directors of the Punjab and Maharashtra Cooperative Bank in connection with the alleged Rs 4,355 crore scam.

Parmeet Sodhi and Surjit Singh Narang had filed anticipatory bail applications before additional sessions judge S T Soor here.

Opposing their pleas, the EOW, in its written submission, said prima facie nexus between some of the accused and HDIL group companies has been made out by the agency. It said the deep-rooted conspiracy caused loss of public funds.

The agency said that six people have lost their lives due to loss of money and the public is protesting over the irregularities.

Probe cannot reach logical conclusion and deep-rooted conspiracy cannot be unfolded without custody, it said.

The EOW has so far arrested five people, including promoters of realty group HDIL and top bank officials, in connection with the case.

Also Read

Mumbai-Bangalore Indigo flight returned to Mumbai, currently under inspection

Guardians of Mumbai: Khanderi-Underi and Arnala

GPX Global Systems opens data centre in Mumbai

Mumbai Central is India's first 'Eat Right Station'

Sharad Pawar to hold meeting of NCP MLAs in Mumbai

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


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