PMC loses Rs 4000 crore in 11 yrs; Police file FIR

Former MD of Punjab Maharashtra Co-operative Bank Joy Thomas. (PTI Photo)

The Mumbai Police on Monday filed a case against the former bank management and promoters of HDIL in the Punjab and Maharashtra Cooperative Bank case and said a special investigation team will be probing the case.

Based on a complaint by RBI-appointed administrator, the city police's Economic Offences Wing filed a first information report (FIR) in the case for forgery, cheating and criminal conspiracy against the officials.

As per initial investigations, the bank's losses since 2008 were Rs 4,355.46 crore, police said.