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Ex-MD of PMC Bank arrested

Our Bureau Mumbai | Updated on October 04, 2019

Joy Thomas, former MD of PMC Bank, was arrested by the Economic Offenses Wing (EOW) of Mumbai on Friday for alleged financial irregularities.

Thomas was at the helm when dubious decisions related to extending loans to Housing Development Infrastructure Limited were taken.

On Thursday, Rajesh Kumar Wadhwan chairman and his son Sarang Wadhwan, MD of Housing Development Infrastructure Limited (HDIL) were arrested. On Friday the duo were remanded till October 9. 

Published on October 04, 2019

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