PMC Bank scam: EOW opposes pre-arrest bail plea of director

Rebecca Samervel / TNN / Nov 9, 2019, 11:52 IST

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The investigating agency said the applicant, Parmeet Sodhi, was a director since 2005, she had served as a member of the loan committee from 2005-2015 and as a member of the recovery committee from 2015-2019.

PMC Bank scam: EOW opposes pre-arrest bail plea of director

Customers outside PMC Bank (File photo)

MUMBAI: Opposing the anticipatory bail plea of a director of Punjab and Maharashtra Cooperative (PMC) Bank in the loan fraud case, the economic offences wing (EOW) denied her claim that she did not have knowledge of the operational development.
The investigating agency said the applicant, Parmeet Sodhi, was a director since 2005, she had served as a member of the loan committee from 2005-2015 and as a member of the recovery committee from 2015-2019."..She has good experience of banking functions. Therefore, applicant is responsible for the entire fraud which has well prevailed during her tenure of directorship," the EOW said.
"Sanction of board of directors is part of the processes of advancing funds in the bank and, therefore, her claim of not having knowledge of operational developments is baseless," the EOW said.
The investigating agency denied Sodhi's claims that the facts are exaggerated to cope with public rage and are politically motivated.

About the Author

Rebecca Samervel

Armed with a degree in political science and law, Rebecca Samervel waltzed into journalism after a brief stint in modeling. As a reporter at The Times of India, Mumbai, she covers courts. She is a self-confessed food-a-holic. Travelling, politics and television are her passions. If you want to find her during the week the only place to look is the Bombay high court.

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