Hdil

PMC Bank scam: Bombay High Court sets up panel for sale of HDIL assets; next date of hearing on 30 April

The Bombay High Court set up a three-member committee on Wednesday for valuation and sale of encumbered assets of Housing Development and Infrastructure Ltd (HDIL) to expeditiously recover dues payable by the firm to crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank

PMC Bank impact: RBI revises norms for urban cooperative banks; to place them under supervision if net NPAs exceed 6%

Following the exposure of scam in the PMC Bank, which has over 9.15 lakh depositors, the RBI imposed restrictions on withdrawals.

PMC Bank scam: HDIL MD Sarang Wadhawan's wife received Rs 70 lakh salary for working as retainer, finds ED probe

In her statement to the ED, Anu Wadhawan said that she was not a director on any of the HDIL group companies

PMC Bank fallout: RBI proposes to tighten lending norms for UCBs, says exposure to single borrowers leads to credit concentration risk

Earlier this month, the RBI Central Board had reviewed functioning of the urban cooperative banks and the enforcement framework.

PMC Bank scam: EOW submits 32000-page chargesheet; HDIL promoters Rakesh Wadhawan, son Sarang among five accused booked

According to the RBI, PMC bank masked 44 problematic loan accounts, including HDIL loan accounts, by tampering with its core banking system, and the accounts were accessible only to limited staff members.

PMC Bank scam: RBI-appointed administrator to seek valuation of HDIL's aircraft, yacht; plans to appoint consultant

These assets belong to HDIL group firms owned by Rakesh Wadhawan and his son Sarang, the prime accused in the Rs 6,500-crore scam at the cooperative lender.

PMC Bank scam: EOW may file its first chargesheet against promoters of HDIL today; Wadhawans booked under PMLA in over Rs 6,300 cr fraud

The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on 23 September for six months due to massive under-reporting of dud loans

PMC Bank scam: No objection if HDIL properties are sold off for recovery of dues, managing director Sarang Wadhawan tells court

Sarang and his father, HDIL promoter Rakesh Wadhawan are currently in judicial custody after the duo were arrested in connection with an alleged scam at PMC Bank.

PMC Bank scam: Enforcement Directorate files 7,000-page chargesheet against HDIL promoters Rakesh Wadhawan, son Sarang

The PMC Bank, which has around 16 lakh depositors, was placed under an RBI administrator on 23 September for six months due to massive under-reporting of dud loans.

Over 50 PMC Bank depositors detained by Mumbai Police after protest; Uddhav Thackeray meets delegation, assures all help

Over 50 depositors of the Punjab and Maharashtra Cooperative (PMC) Bank were detained by Mumbai Police on Sunday after they protested outside the residence of Chief Minister Uddhav Thackeray in Mumbai, police said.