Aircraft, yacht of PMC Bank to be auctioned

In a fresh development, the crisis-ridden PMC Bank has invited applications for appointment of valuer for sale or auction of its seized assets including aircraft and yacht.

The public notice inviting proposals appeared on Friday. "It is one step further towards the revival of PMC Bank," former BJP MP and founder of Investors Grievances Forum Dr Kirit Somaiya said.

The advertisement states: "Request for proposal to appoint valuer/consultant for valuation of assets to be sold. Administrator for Punjab and Maharashtra Co-operative Bank ltd invites proposal for appointment of Valuer/Consultant that shall be a reputed firm having prior/at least 5 years' experience of providing Valuation/Technical services w.r.t Aircraft/Yacht assets. Proposals are invited by 17:00 hours (IST) on 05 January 2020. For details, interested parties may visit the website: www.pmcbank.com."

The notice was signed by PMC Bank Administrator J B Bhoria.