Police file FIR against PMC Bank, HDIL officials; SIT formed
Mumbai, Sep 30: The Mumbai Police on Monday filed a case against the former bank management and promoters of HDIL in the Punjab and Maharashtra Cooperative Bank case and said a special investigation team will be probing the case.
Based on a complaint by RBI-appointed administrator, the city police's Economic Offences Wing filed a first information report (FIR) in the case for forgery, cheating and criminal conspiracy against the officials.
As per initial investigations, the bank's losses since 2008 were Rs 4,355.46 crore, police said.
The bank's former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with the director of HDIL, Wadhawan, have been named in the FIR. First name of Wadhawan was not immediately available.
Explaining the modus operandi of the case, the FIR said HDIL promoters allegedly colluded with the bank management, to draw loans from the bank's Bhandup branch.
Despite non-payment, the bank officials did not classify the loans as non performing advances and intentionally hid the information about the same from RBI, an official statement from the police said.
They also created fictitious accounts of companies which borrowed small sums of money, and created fake reports of the bank to hide from the regulatory supervision, it said.
The FIR has been filed under sections 409 (criminal breach of trust by a public servant or banker), 420 (cheating), and 465, 466 and 471 (related to forgery) of the Indian Penal Code along with 120 (b) (criminal conspiracy).
The bank, which has 137 branches and over Rs 11,000 crore in deposits, has been put under restrictions since last week after the RBI discovered certain financial irregularities in the functioning of the multi-state lender.
According to sources, the overall exposure of the bank to the financially stressed HDIL group is around Rs 6,500 crore or over 73 per cent of the advances, and all of it is not being serviced.
Under the restrictions, which are to be applicable for six months, a depositor is able to withdraw only Rs 10,000 per account. It can also not take fresh deposits or extend any new loans.
The restrictions have led to a massive public outcry with people thronging the branches for their money. The RBI has said that 60 per cent of the accounts have balances under Rs 10,000 and will not be impacted by the measures.
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NEET student hangs self in Rajasthan's Sikar
Jaipur (PTI): A student preparing for the NEET examination allegedly committed suicide by hanging himself in a rented room in Rajasthan's Sikar on Friday, police said.
According to the police, the student allegedly hanged himself from a ceiling fan using his sister's scarf while one sister was attending coaching classes and the other was in the bathroom.
He had appeared in the NEET UG exam 2026, which was cancelled due to paper leak, they said.
Udyog Nagar SHO Rajesh Kumar said that the deceased, identified as Pradeep Meghwal, was a resident of Kanika ki Dhani village in Jhunjhunu's Gudha Gaudji area.
He had been living in a rented room in Sikar's Jaldhari Nagar area with his two sisters while preparing for NEET over the last three years.
His elder sister later found him hanging and informed the landlord and police after bringing him down, officials said.
The SHO said the body was kept at SK Hospital mortuary, and a postmortem had not been conducted.
The student's father, Rajesh Kumar Meghwal, told police that Pradeep's NEET examination had gone well and the family was expecting him to score around 650 marks.
Former Rajasthan deputy chief minister Sachin Pilot expressed grief over the incident and linked it to anxiety among students after reports of irregularities and paper leaks in NEET 2026.
Pilot said repeated paper leak incidents and cancellation of examinations were affecting students' mental health and demanded a time-bound investigation and strict action against those responsible.
