PMC bank case: Waryam Singh not cooperating in interrogation, EOW tells Court

Economic Offices Wing (EOW) of Mumbai Police on Monday told the Esplanade Court that Punjab and Maharashtra Co-operative (PMC) Bank chairman Waryam Singh was not cooperating in the interrogation.

They also claimed to have "reliable" information that Singh had purchased a 5-star hotel in Amritsar with the "ill-gotten" money of the bank.

"We have got reliable info that Waryam Singh owns land parcel in Juhu Beach area, next to citizen hotel, worth Rs 2,500 cr. He was questioned about this but he gave evasive answers. We have found out that Waryam Singh has purchased one 5-star hotel named Lemon Tree hotel, located in Amritsar out of the ill-gotten money of PMC bank," the police said in Singh's remand copy.

"He was acting on the behest of Wadhawans and HDIL group to keep all outstanding dues of HDIL in dark. He also purchased various properties in Haryana and Himachal Pradesh out of the criminal proceeds of PMC bank. As Waryam Singh is not giving the details of these properties, we are looking for a man called Manmohan Ahuja, who is the front henchman of Waryam Singh. But Ahuja is untraceable right now," it added.

Earlier, the court sent Waryam Singh and HDIL promoters Rakesh Wadhawan and Sarang Wadhawan to police custody till October 16.

"The task of identification of HDIL and group companies properties is still in process. Wadhawans and HDIL have availed huge bulk loans from PMC bank against mortgages property. Waryam Singh is not cooperating in the interrogation. Singh is changing his versions about his role that he was forcing Joy Thomas to cover the NPA accounts of HDIL and Wadhawans," read the remand copy.

Thomas, the former managing director of PMC Bank, is already in police custody.