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PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence

Updated : January 16, 2020 01:12 PM IST

A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the submissions of Solicitor General Tushar Mehta that the high court order to the extent of allowing their release from prison needed to be stayed.
The fraud at PMC Bank came to light in September last year after the Reserve Bank of India discovered that the bank had allegedly created fictitious accounts to hide over Rs 4,355 crore of loans extended to almost-bankrupt HDIL.
PMC Bank scam: SC stays HC order allowing shifting of HDIL promoters from jail to their residence

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