Former PMC Bank director Surjit Singh Arora arrested

Former PMC Bank director Surjit Singh Arora arrested
According to EOW officials, Surjit Singh Arora was a director of the PMC Bank and a member of its loan committee, which was responsible for sanctioning loans to HDIL

The Economic Offences Wing (EOW) of Mumbai Police on Wednesday arrested Surjit Singh Arora, a former bank director and one of the accused in the Punjab & Maharashtra Cooperative (PMC) Bank scam.

According to EOW officials, Arora was a director of the PMC Bank and was also on its loan committee. He was summoned for questioning by the EOW’s special investigation team earlier in the day.

“His role in the scam has come to light. He was involved in the loan sanctioning process,” the official said.

According to sources, Arora had gone underground after the PMC bank scam came to light.

This is the fifth arrest in the case.

The EOW has already arrested promoters of HDIL group Rakesh and Sarang Wadhawan, former PMC Bank chairman Waryam Singh and former managing director of the bank Joy Thomas in connection with the alleged Rs 4,355 crore scam.


Related: PMC Bank withdrawal limit hiked to Rs 40,000 from 25,000


 

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