Mumbai's Esplanade Court has sent former chairman of the Punjab and Maharashtra Co-operative (PMC) Bank, Waryam Singh and Housing Development Infrastructure Limited (HDIL) directors, Sarang Wadhawan and Rakesh Wadhwan, to police custody till October 14.
Scores of PMC Bank account holders on Wednesday staged a protest in front of the Esplanade Court here.
The protestors demanded imprisonment for Sarang and Rakesh Wadhwan.
"We demand that the HDIL directors should get jail, not bail today in the court. Because of them, we have lost our money. We all have gathered here to make sure they don't get bail in the matter. The government is encouraging us to join digital India but how can we join it when our money in the banks is not safe," Anita Lohia, one of the protestors told ANI.
"The withdrawn limit of Rs 25,000 is nothing. My two sons are studying CA and I need lakh of rupees to pay their fees. So how will I manage the festive season and their fees? We want them to get jail and they should not abscond from the country like Vijay Mallya," Hariom Rai, another protestor said.
PMC Bank is a multi-state scheduled urban cooperative bank with operations in Maharashtra, New Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh, and Madhya Pradesh. With a network of 137 branches, it ranks among the top 10 cooperative banks in the country.
Disclaimer: No Business Standard Journalist was involved in creation of this content
