S. Rajneet Singh, son of Maharashtra Bharatiya Janata Party (BJP) leader Sardar Tara Singh, was arrested by the Economic Offence Wing (EOW) of the Mumbai Police on Saturday evening in connection with the Punjab and Maharashtra Cooperative (PMC) Bank scam.
Singh was a director of the bank. Besides being a director, Singh was also a member of the bank’s Recovery Committee. During the interrogation, he was asked about the loans extended to the HDIL group companies, their dues and measures taken to recover those dues.
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However, according to news agency IANS, due to his unsatisfactory explanations his involvement in the offences was established.
“Rajneet provided unsatisfactory and unconvincing explanations, which hints at his likely role in the scam”, India Today quoted as official as saying.
So far, nine persons have been arrested in connection with the alleged Rs 4,355-crore scam.
So far, nine PMC bank account holders have died in the aftermath of this scam.