 "Joy Thomas, PMC Bank")
The Reserve Bank of India (RBI)-appointed administrator of Punjab and Maharashtra Co-operative (PMC) Bank plans to file a first information report (FIR) against sacked managing director Joy Thomas on charges of fraud for misrepresenting the bank’s books and hiding bad debts of bankrupt real estate firm Housing Development & Infrastructure (HDIL). The alleged cooking of the books continued for a long time until a key member of the group refused to play along.
PMC Bank’s administrator, J B Bhoria, confirmed that his team was “on the job” in filing the FIR against Thomas.
On Friday, Thomas held a sudden press conference in
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