The Economic Offences Wing (EOW) of Mumbai Police on Thursday arrested three persons including the former director of Punjab and Maharashtra Co-operative Bank (PMC) for alleged involvement in a scam.
The accused have been identified as Jasvinder Singh Banwait, Vishwanatha Shridhar Prabhu and Shripad Govind Jere.
Banwait has served as a director and member of the banks Loan, Investment and Executive Committee when the alleged Rs 4,355 crore scam involving Housing Development and Infrastructure Ltd (HDIL) took place.
Banwait was interrogated regarding loan facilities awarded by PMC Bank to HDIL group companies and efforts made by him to recover or regularise long-pending dues from the group.
While Vishwanatha Shridhar Prabhu and Shripad Govind Jere both are valuers of PMC Bank for a long time.
Further, an investigation is underway.
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