HDIL (Housing Development and Infrastructure Limited) is a listed real-estate development company which had allegedly been extended large loans by the Punjab and Maharashtra Cooperative Bank (PMC)
Kirit Somaiya in a file picture
New Delhi: BJP leader Kirit Somaiya on Thursday wrote a letter to the Reserve Bank of India (RBI) requesting it to initiate criminal action against the management of HDIL company and PMC Bank for allegedly looting the deposits of people.
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"Out of Rs 8000 crore advances I fear more than Rs 3000 crore gone to HDIL and its group companies and Benami's. It seems after default also PMC had given hundreds of crore to HDIL. This can happen only due to milibhagat (cooperation) of the bank's senior management and HDIL owners. The relationship between the HDIL owner and the bank Chairman (former?) is well known therefore I request criminal action against the management of HDIL and PMC Bank management for the looting of 9.12 lakh depositors," the letter by Somaiya read.
#pmcbank Punjab Maharashtra Coop Bank issue, I discussed to provide relief upto u00e2u0082u00b9 1 lac to small depositors senior citizens widows with finance minister state @ianuragthakur @RBI governor @DasShaktikanta RBI deputy governor Viswananthan & PCB persons I will meet RBI tomorrow pic.twitter.com/pMIVZtr09P
— Kirit Somaiya (@KiritSomaiya) September 25, 2019
HDIL (Housing Development and Infrastructure Limited) is a listed real-estate development company which had allegedly been extended large loans by the Punjab and Maharashtra Cooperative Bank (PMC).
"It is well known that HDIL default started in the first half of 2018. The company has defaulted various repayment of loans, advances, NCD. Several financial institutions, banks took note and initiated action," Somaiya's letter read.
Earlier on August 21, shares of HDIL were locked in 20 per cent lower circuit after the National Company Law Tribunal (NCLT) admitted Bank of India's insolvency plea against the realtor. The bank had approached the Mumbai bench of the NCLT against HDIL after it failed to repay dues of Rs 522 crore.
In the letter addressed to the RBI Governor, Shaktikanta Das, Somaiya also urged him to conduct a "forensic audit" of all the transaction of PMC Bank with HDIL.
Today 1pm I am filing criminal complaint with Police EOW Economic Offence Wing ( Mumbai Police Head Quarter Police Commissioners Office) against #PMCBank (Top Management) & HDIL Nexus looting u00e2u0082u00b93000 crores of 9.12 lacs Depositors of PMC bank @BJP4Maharashtra
— Kirit Somaiya (@KiritSomaiya) September 26, 2019
"Request the RBI, Administrator must file a criminal complaint against HDIL and bank's concerned officials, a full-fledged forensic audit of the bank's transactions with HDIL be undertaken immediately," it added.
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