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PMC Bank customer with Rs 90 lakh in account dies of heart attack after protests

PMC Bank crisis: Gulati, 51, was an employee of the now-defunct airline Jet Airways. When the airline shut down its operation in April, he was fired from the company; he suffered a heart attack while having food after the protest

twitter-logo BusinessToday.In   New Delhi     Last Updated: October 15, 2019  | 12:09 IST
PMC Bank customer with Rs 90 lakh in account dies of heart attack after protests
PMC Bank crisis: Sanjay Gulati was an employee of the now-defunct airlines Jet Airways.

PMC Bank crisis: An account holder of the PMC Bank, who had Rs 90 lakh deposited in the bank, died of a cardiac arrest after participating in a protest. The 51-year-old man, identified as Sanjay Gulati, was a resident of Taporewala Gardens in Mumbai's Oshiwara. He held an account in the local Oshiwara branch of the bank.

Gulati, 51, was an employee of the now-defunct airline Jet Airways. When the airline shut down its operation in April, he was fired from the company. On Monday, he was among 200 customers who staged a protest outside the Mumbai court. After returning to home, he suffered a heart attack while having food and died on the spot. He was rushed to the Kokilaben Hospital, but to no avail.

ALSO READ: PMC Bank case: ED traces 2,100 acres of land worth Rs 3,500 crore owned by Wadhawans

Meanwhile, Reserve Bank of India (RBI) on Monday increased the withdrawal limit to Rs 40,000 from Rs 25,000 earlier. The central bank said it was closely monitoring the developments and would continue to take necessary steps in the interest of PMC Bank depositors. With the above relaxation, more than 77 per cent of the depositors of the bank will be able to withdraw their entire account balance, it added.

ALSO READ: Infographic: How the PMC Bank scam unfolded

PMC Bank provided loans to the embattled HDIL and its subsidiaries despite being aware of the dismal financials of the company. After the matter came to light last September, the Reserve Bank of India imposed operational restrictions on the lender.

The Economic Offences Wing of Mumbai Police had lodged an FIR in the PMC Bank case on September 30. The ED, which is also investigating the case, has attached movable and immovable assets of HDIL, its directors, promoters, PMC Bank officials and others in the case.

Edited by Manoj Sharma

Also read: PMC Bank Scam: Cash, private jets, Rolls Royce, Bentley recovered from Wadhawans, Waryam Singh

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