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Kirit Somaiya asks RBI to initiate criminal action against HDIL, PMC
Updated On: 26 September, 2019 01:12 PM IST | Mumbai | ANI
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)
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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.
"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.
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