According to the police’s first information report, Rs 4,355.46 crore had been allegedly diverted as loans by PMC Bank into the personal and “ghost accounts” of the Wadhawans.Meanwhile, about 150 depositors protested outside the Metropolitan Magistrate Court where the accused were bought by the police seeking their remand. The crowd tried to stop the vehicle carrying Amit Desai, counsel for the Wadhawans, but the police removed the protesters. We have managed to save a few lakhs in PMC as fixed deposits. The only option we have is to come here and protest," she told ET.The police told the court that the accused needed to be interrogated further. This, it said, “is brazen falsification of accounts which needed to be substantiated with thorough examination of the books of accounts of HDIL”.

Source: Economic Times October 10, 2019 01:30 UTC