PMC Bank scam News
ED initiated an investigation under PMLA on the basis of FIR dated 30.09.2019 registered by Economic Offences Wing, Mumbai Police. The developer has given an undertaking to ensure not to sell/transfer/alienate or create any third party rights thereon on completion of the project. There was misconduct on the part of PMC officials as they ignored all the prevailing procedures to facilitate promoters of HDIL by extending unusual credit facility.
The ED alleged that Pravin Raut had "siphoned off" Rs 95 crore worth of funds from the scam-hit bank in the garb of loan Of this amount, he paid Rs 1.6cr to his wife, Madhuri, who subsequently transferred Rs 55 lakh in two tranches to Varsha Raut as an "interest-free loan" Pravin Raut was one of the directors in Guruashish Constructions, a subsidiary of Housing Development and Infrastructure Ltd
Raut said his wife is a teacher, adding "our income has not grown by Rs 1,600 crore" "This politics is played out of frustration when you cannot fight your political opponents face to face," he said The Sena MP said he had been doing regular correspondence with the ED for the last one-and- a-half months regarding a Rs 50 lakh loan taken by his wife ten years ago
In September, the RBI had imposed regulatory restrictions on the PMC Bank for six months over alleged financial irregularities. The RBI had asked the bank not to grant or renew any loans and advances, make any investment or incur any liability, including borrower of funds and acceptance of fresh deposits.
Sixty-eight -year-old Keshmul Hinduja was admitted to hospital after he complained of chest pain on October 29. He died of a heart attack the next day, his daughter said. She also claimed that Hinduja did not have any ailment and used to run a grocery shop in Mumbai's Mulund area. However, after the PMC Bank scam came into light, he was under stress.