The Enforcement Directorate on Friday raided six locations in Mumbai and adjacent areas and registered a money-laundering case to investigate the alleged fraud in the Punjab and Maharashtra Cooperative (PMC) Bank case, reveal sources.
Sources suggest that the raids were conducted in response to a criminal complaint filed under the Prevention of Money Laundering Act by the central agency.
The Enforcement Directorate case is based on an FIR filed by the Economic Offences Wing (EOW) of Mumbai police. The aims were conducted in a bid to collect more evidence, ED sources said.
The ED and Mumbai Police case is filled gainst former bank management and promoters of the Housing Development Infrastructure Limited (HDIL).
Based on a complaint by an RBI-appointed administrator, the police complaint was lodged earlier this week citing charges of forgery, cheating and criminal conspiracy against the officials.
As per the preliminary level investigation, police said, the bank’s losses since 2008 were Rs 4,355.46 crore.
The bank’s former chairman Waryam Singh, managing director Joy Thomas and other senior officials, along with a director of HDIL, have been framed in the FIR.