Economic Offenses Wing (EOW) of Mumbai Police has arrested two statutory auditors of PMC Bank on Monday evening.

The duo will be presented at the holiday court on Tuesday for police custody.

According to the EOW, Jayesh Dhirajlal Sanghani, partner, M/S Ashok Jayesh & Associates and Keshav Pravinchand Lakdawala, partner, M/S Lakdawal and Co were both the statutory auditors of PMC Bank during the "peak period of the fraud."

Housing Development Infrastructure Limited (HDIL) group of companies was the largest borrower of PMC Bank and they have kept dues to the tune of ₹4,335.46 crore unpaid since 2008 until 2019.

During the investigation, their association with HDIL came into light. And since the duo were unable to provide convincing explanations about their alleged role in the statutory audit of PMC Bank, the duo was arrested.

So far, the EOW of Mumbai Police has made five arrests -- the promoters of HDIL, along with directors, MD and Chairman of PMC bank. Currently, all are in Judicial Custody. Anticipatory bail from two directors of PMC bank was also opposed by the police officials.

Meanwhile, Kirit Somaiya, VP, BJP Maharashtra, and former member of Parliament, tweeted: "PMC Bank Crisis. Just now I talked to Anurag Thakur Finance Minister of State & requested to pursue with RBI Governor Shaktikanta Das to expedite process of revival of PMC Bank. He informed me that finance ministry is in touch with RBI to resolve the issue."

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