Recently, in the Punjab and Maharashtra Co-operative Bank Scam (PMC), the Economic Offenses Wing of Mumbai Police has filed a 32 thousand-page charge sheet against the five accused related to the case today in front of the Metropolitan Magistrate of Mumbai. In the chargesheet, HDIL company directors Rakesh Wadhawan and his son Sarang, former managing director of PMC Joy Thomas, former bank chairman Varyam Singh and former bank director Surjit Singh Arora have been accused in the scam. All these have been booked under various sections of the IPC, including cheating, fraud, destroying evidence and forgery of papers.

All were arrested after the case surfaced in September, most recently all the accused are in judicial custody. The 32,000-page charge sheet also contains forensic audit reports of PMC Bank and documents of assets purchased by the accused bank officials, which were acquired on their behalf and given to HDIL and Wadhavan.

In addition, the charge sheet contains statements of 340 witnesses including bank account holders. The police recorded the statements of four necessary witnesses before the magistrate under Section 164 of the Criminal Procedure Code. The fraud of PMC Bank was revealed in September this year, when the Reserve Bank of India came to know that PMC Bank had opened fake accounts to conceal the loan of Rs 6700.

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