National News

BJP Leader’s Son Nabbed In PMC Bank Scam

Mumbai: The Financial Offence Wing (EOW) of Mumbai Police has arrested S. Rajneet Singh in reference to the Punjab and Maharashtra Cooperative (PMC) Financial institution rip-off, an official stated right here late on Saturday.

Singh was a director of the financial institution and is the son of senior state BJP chief Sardar Tara Singh, a former legislator from Mulund.

Based on Mumbai Police spokesperson and Deputy Commissioner of Police Pranaya Ashok, Rajneet Singh was introduced for questioning in reference to the Rs 4,355 crore fraud allegedly perpetrated by PMC Financial institution administrators and administrators of the HDIL group.

Since Rajneet was a director on the financial institution for round 13 years moreover being a member of the financial institution’s Restoration Committee, he was interrogated on the loans prolonged to the HDIL group firms, their long-pending dues and the efforts made to recuperate the identical.

Nonetheless, he offered evasive and unsatisfactory explanations after which his involvement within the offences was revealed and confirmed by the investigators.

Accordingly, he was arrested late within the night and will probably be produced earlier than a vacation Justice of the Peace on Sunday for securing police remand for additional investigation, stated the DCP.

To date, over half a dozen individuals, together with PMC Financial institution’s senior previous and current executives, and the highest brass of the HDIL group have been arrested for the reason that rip-off erupted in late September.

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