On Monday, a 51-year-old man, a PMC customer, died after attending protests. The man was identified as Sanjay Gulati suffered a cardiac arrest after he lost his life savings to the scam.
According to Repulicworld.com, 51-year-old Gulati had lost his job at Jet Airways. Sanjay Gulati, a resident of suburban Oshiwara, went to a protest march held outside a city court on Monday morning and had been under stress because of his deposit being stuck. Gulati was there at the protest along with his 80-year-old father. According to reports in a section of media, Gulati lost his job after the grounding of Jet Airways and is survived by a specially-abled son, who requires regular medical treatment.
On Monday, Finance Minister Nirmala Sitharaman said she is closely monitoring the developments at PMC Bank, and the RBI governor has assured that customers' interest will be protected.
The police registered an FIR against the top officials of the Punjab and Maharashtra Co-operative (PMC) bank and the promoters of the HDIL, Rakesh Wadhwan, and Sarang. The bank allegedly continued giving loans to the debt-ridden HDIL from 2008 to 2019 despite the previous loans the firm defaulting on earlier loans. This resulted in a loss of nearly Rs 4,355 crore. The ED's criminal case of money laundering is based on a recent FIR filed by the Mumbai Police's Economic Offences Wing (EOW) alleging irregularities in the financial and loan-giving affairs of the bank.