As Anxious PMC Depositors Look For Solution, Supreme Court To Hear Bank Case On October 18

As the anxious PMC depositors looked for solution, the Supreme Court on Wednesday said that it will hear the matter regarding the bank fraud on October 18. ‘We will hear it on October 18,’ the top court said on a PIL filed by Bijon Mishra that sought a direction for protection of over 15 lakh and 100% insurance cover Punjab and Maharashtra Bank (PMC) depositors. In a related development, accused in PMC Bank case, Rakesh Wadhawan, Sarang Wadhawan and Waryam Singh were sent to judicial custody till 23rd October by Esplanade Court, Mumbai. Meanwhile, city's Economic Offences Wing DCP Shrikant Paropkari also addressed Punjab and Maharashtra Bank (PMC) depositors protesting outside Esplanade Court.

The development comes as reports of three deaths of PMC depositors shocked the account holders. A depositor of scam-hit PMC Bank allegedly committed suicide, while another died of a heart attack a few hours after taking part in a protest by bank customers seeking their money back. Dr Nivedita Bijlani (39), who allegedly ended life on Monday evening, and Sanjay Gulati (51) who died of a heart attack on the same day, had deposits of over Rs 90 lakh each with the Punjab & Maharashtra Cooperative Bank. The bank has been put under restrictions by the RBI following the discovery of a Rs 4,355 crore scam. Deposit withdrawals have been capped at Rs 40,000 over a six-month period, causing panic and distress among depositors.

Gulati, an account-holder at the scam-hit PMC bank, died of heart attack in Mumbai on Monday. Just hours before his death, Gulati had taken part in the protests against the government over the bank fraud. The 51-year-old, a resident of Oshiwara, Andheri West, came home and complained of uneasiness. Soon, he was rushed to Kokilaben Hospital in Versova, where Gulati was declared brought dead. News Nation has learnt that Gulati had previously lost his job at the Jet Airways. According to his relatives, Gulati was very worried and anxious over the bank fraud.

‘He had spoken to me a day earlier. He was very worried about his future. He had said that more than the job loss, it is the bank fraud that hit him hard,’ Gulati’s relative Rajesh Dua told News Nation. According to the family, Gulati had around Rs 90 lakh in his PMC account at Oshiwara branch.

Also Read: Another PMC Bank Customer Dies Of Heart Attack, Second Case In Two Days

He also said that Gulati was stressed over treatment of his special child. Dua said that all the money was in the bank and due to withdrawal limit, Gulati was not able to source money for the treatment of his child. News of Gulati’s death has sent shockwaves among the PMC depositors.