Mumbai: The forensic auditors who were appointed by the Mumbai police Economifc Ofences Wing (EOW) to analyse the documents recovered from the Punjab and Maharashtra Co-operative (PMC) bank during searches, have submitted a prilminary report.
EOW sources said the final report is likely to be completed in a couple of weeks’ time. The contents of the prelminary report has not been revealed so far.
The forensic auditors’ report is considered crucial as it holds key to unravel the malpractices in the bank over the years. “It will also expose the role of the bank’s management in camouflaging the book of accounts, including the loan accounts, during successive audits in the bank,” sources said.
During the prilminary probe and information from arrested MD Joy Thomas and chairman, Waryam Singh, EOW had learnt how over 21,000 ghost accounts were created to hide over Rs4,300 crore loans allotted to HDIL and its affiliates in 44 borrowal accounts. Those accounts never came under the auditors’ scrutiney as access to those were protected by encrypted passwords by doctoring the software.
However, as EOW wanted to get to the root of the scam by identifying the end beneficiaries and the money trail, the help of professional forensic auditors had been sought.
Meanwhile, sources said that attempts to arrest two more directors of the bank--Daljit Singh Bal and Gurunam Singh Houti--has not yielded any results so far amid reports that they have fled to Punjab.
However, senior EOW officials were tightlipped about the searches. Another bank director Surjit Singh Arora had been arrested by EOW earlier.
