The Bombay high court (HC) on Wednesday granted bail to three former independent directors of the scam-hit of Punjab and Maharashtra Cooperative (PMC) Bank

PUBLISHED ON MAY 08, 2021 12:52 AM IST

The Bombay high court (HC) on Wednesday granted bail to three former independent directors of the scam-hit of Punjab and Maharashtra Cooperative (PMC) Bank. HC said there was no evidence suggesting the involvement of the trio – arrested by Mumbai Police’s economic offences wing in 2019 – in the alleged fraud.

“There is no evidence to show that the applicants were a part of any conspiracy with the prime accused in causing loss to the bank. There is nothing on record to show that the applicants at any point of time had met accused Nos 1, 2 [realty group Housing Development Infrastructure Limited’s Rakeshkumar Wadhawan and his son Sarang] or there were any meetings with HDIL’s directors,” said HC while granting bail to Dr Trupti Bane, Mukti…

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