The BharatPe-Centrum combine is one of the four bidders that have made submissions to the Reserve Bank of India for acquiring PMC Bank. The other bidders include UK's Liberty Group and two independent business houses

The ED had summoned Varsha Raut in connection with the alleged transfer of funds from the accounts of Pravin Raut, an accused arrested in the Punjab and Maharashtra Cooperative (PMC) Bank fraud case

PMC Bank's present administrator Jai Bhagwan Bhoria has stepped down on September 22 due to health reasons

In his petition filed before HC, Wadhawan, who is presently lodged at the Arthur Road prison in central Mumbai, sought to be shifted to hospitals like Lilavati, Nanavati or Criticare

The fraud at the Punjab and Maharashtra Cooperative (PMC) Bank came to light in September 2019 after the Reserve Bank of India found that the PMC Bank had allegedly created fictitious accounts to hide over Rs 4,355 crore of loans extended to the almost-bankrupt HDIL

According to RBI, a total of 181 fraud cases involving Rs 127.7 crore were noticed during 2018-19

So far, the RBI only used to share the details of the minutes of its board meetings in response to queries under the Right to Information (RTI) Act

Earlier during the day the apex court had agreed to consider the plea of enforcement agencies against the high court order to release them from jail and keeping them in their residence

The Wadhawans shall help the committee in valuation of HDIL's encumbered properties, the court said

The fraud at PMC Bank came to light in September last year after RBI discovered that the bank had allegedly created fictitious accounts to hide over Rs 6,700 crore in loans extended to HDIL

Despite higher limits, the outstanding deposits of the bank have reduced from around Rs 11,800 crore in September, when the RBI took charge of the bank, to Rs 10,800 crore by November-end

Charge sheet filed by the Enforcement Directorate earlier this month has revealed that HDIL group companies need to repay Rs 6,117.93 crore to PMC Bank as on August 31, 2019

Manjit Kaur Ishwar Singh, who was Joint General Manager (Credit) in PMC Bank, told ED during the probe that HDIL had around total 44 loan accounts which included personal accounts of HDIL's promoters Rakesh Wadhawan and Sarang Wadhawan

UCBs should take utmost care about data accuracy and integrity while submitting the information /data on large credit to RBI, failing which penal action as per the provisions of the Banking Regulation Act, 1949 may be taken

The chargesheet has named PMC Bank's erstwhile chairman Waryam Singh, former managing director Joy Thomas, former director of the bank Surjit Singh Arora, along with HDIL promoters Rakesh Wadhawan and Sarang Wadhawan

The Wadhawans have been booked under various provisions of the PMLA. The two were initially arrested by Mumbai Police's Economic Offences Wing (EOW), which was probing the scam, and later taken into custody by the ED in October this year

The Board's discussions focussed on issues related to urban cooperative banks, extension of Enforcement Policy and Framework to cooperative banks and NBFCs, the RBI said in a statement

Insolvency and Bankruptcy Rules of 2019 would help but more needs to be done: tighter RBI control and supervision, infusion of long-term funds (including capital) and reduction in mismatch in assets and liabilities

Co-operative sector banks, particularly the urban co-operative banks (UCBs), are falling apart slowly but surely with mounting stressed assets, the full extent of which may not be known

The Reserve Bank is closely monitoring the situation at the bank and a forensic audit is underway, governor Shaktikanta Das had said earlier amid persisting uncertainty over depositors' funds