Mumbai
The Mumbai Police has arrested S. Rajneet Singh, in connection with the Punjab & Maharashtra Cooperative Bank Ltd scam, an official said here late on Saturday.
Singh was a director of the bank and is the son of a senior state Bharatiya Janata Party leader, Sardar Tara Singh, a former legislator from Mulund.
According to Mumbai Police Spokesperson Deputy Commissioner of Police Pranaya Ashok, Rajneet Singh was brought for questioning in the PMC Bank scam in the matter pertaining to a Rs. 4355-crore fraud allegedly perpetrated by the bank directors and directors of the HDIL Group.
Since Rajneet was a director for around 13 years besides being a Member of the bank’s Recovery Committee, he was interrogated on the loans extended to the HDIL Group companies, their long-pending dues and efforts made to recover the same.
However, he provided evasive and unsatisfactory explanations after which his involvement in the offences was revealed and confirmed by the investigators.
Accordingly, he was arrested late this evening and will be produced before a holiday magistrate on Sunday for securing a police remand and further investigation, said DCP Ashok.
So far over half a dozen persons including the PMC Bank’s senior past and present excutives and top brass of the HDIL have been arrested since the scam erupted in late-September. (IANS)
