PMC Bank Crisis: Former Director Rajneet Singh To Be In Custody Till November 25

Rajneet Singh was also a member of the bank’s loan recovery committee. He was interrogated about the ₹4,355 crore scam of PMC and the loan sanctioned to HDIL group of companies.

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The Economic Offences Wing (EOW) has arrested son of a former Bhartiya Janta Party (BJP) MLA  of Mulund constituency and Former Director of Punjab and Maharashtra Cooperative (PMC) Bank Rajneet Singh and he will be remanded in custody till November 25. 

Also Read: PMC Bank Crisis: Withdrawal Limit Now Increased To ₹50,000

He was produced before Espalande Court on Sunday and soon after that, the EOW raided his house in Sion-Koliwada for over an hour to find evidence related to the case. Rajneet Singh was also a member of the bank’s loan recovery committee. He was interrogated about the ₹4,355 crore scam of PMC and the loan sanctioned to HDIL group of companies. 

The EOW officials stated that his answers were unsatisfactory and it has established Rajneet's active involvement in the case.  The EOW has already arrested the promoters of HDIL and top PMC bank officials in connection with the scam.

Also Read: PMC Bank Crisis: 9 Depositors Detained While Protesting Outside RBI Office

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