Mumbai: Day by day, new revelations are coming up in the Punjab and Maharashtra Cooperative Bank (PMC Bank) scam. The firm named Lakdawala and Co has audited the bank for FY18-19.
The firm has mentioned in its audit about doubtful recovery of assets against which a provision of Rs 26.82 crore has been made by the bank.
A reporter from the Free Press Journal went to check the firm's address that mentioned Lakdawala & Associates has its office at D14, Bansi Nagar on the Western Express Highway in Borivali (East).
However, there was no board or nameplate to indicate its existence. We found that it's locked and located in a housing society. The neighbours said that they have no idea about any office at the place.
According to reports, the Institute of Chartered Accountants of India (ICAI) issued a press release claiming to have initiated a disciplinary action against the firm.