Motihari: The main accused of the Punjab and Maharashtra Co-operative Bank (PMC Bank) scam, Daljit Singh Bal, along with his family has been arrested on Wednesday from Raxaul near the Indo-Nepal border. Bal is the director of the bank and was trying to cross the Indian borders and flee to Nepal.
Daljit Singh Bal was apprehended by the Mumbai police's Economic Offences Wing (EOW) in Bihar, an official said on Thursday.
The fraud at PMC Bank came to light in September 2019 after the RBI placed directions on the urban co-operative bank and placed an administrator. It was discovered that the bank had allegedly created fictitious accounts to hide over Rs 6,700 crore in loans extended to the almost-bankrupt Housing Development and Infrastructure Limited (HDIL).
The Immigration department arrested the absconding PMC Bank director just 200 meters before entering Nepal and has informed the Economic Offenses Wing (EOW) of the Mumbai Police. Bal has been kept in Raxaul police station.
Meanwhile, it is speculated that Daljit Singh Bal, like Nirav Modi and Vijay Mallya, was also in the process of leaving the country and fleeing to Canada via Nepal.
Earlier, two years ago, 7 people including key officials of the bank, auditors, and promoters of Housing Development and Infrastructure Limited (HDIL) were arrested in the PMC scam by EOW.
(With agency inputs)
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