The Bombay High Court had recently, in an order, allowed the plea of HDIL directors -- Rakesh Wadhawan and Sarang Wadhawan -- to shift them from Arthur Road jail to their residence to enable them to sale their assets.
After finding certain irregularities in the PMC Bank, the Reserve Bank of India (RBI) has barred the bank from carrying out almost all its routine banking activities for six months.
The Congress leader's remarks come after Finance Minister Nirmala Sitharaman on Tuesday said the Public Sector Banks had their worst time during economists Manmohan Singh and Raghuram Rajan’s time.
Sanjay Gulati went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck with the bank.
The bank has come on the regulatory radar after Housing Development & Infrastructure Ltd and its directors failed to repay a Rs 4,355 crore loan taken from PMC Bank putting the bank under liquidity stress.
Rakesh Kumar Wadhawan, the Chairman, and Sarang Wadhawan, Managing Director of HDIL were arrested by the Economic Offences Wing (EOW) of the Mumbai Police earlier on Thursday.
