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PMC Bank set to file FIR against sacked managing director Joy Thomas

Joy Thomas to be charged with misrepresenting the bank's books and hiding bad debts of HDIL

Joy Thomas, former MD, PMC Bank, addressing a press conference in Mumbai on Friday	| Photo: Kamlesh D Pednekar
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Joy Thomas, former MD, PMC Bank, addressing a press conference in Mumbai on Friday | Photo: Kamlesh D Pednekar

Anup RoySubrata Panda Mumbai
The Reserve Bank of India (RBI)-appointed administrator of Punjab and Maharashtra Co-operative (PMC) Bank plans to file a first information report (FIR) against sacked managing director Joy Thomas on charges of fraud for misrepresenting the bank’s books and hiding bad debts of bankrupt real estate firm Housing Development & Infrastructure (HDIL). The alleged cooking of the books continued for a long time until a key member of the group refused to play along.

PMC Bank’s administrator, J B Bhoria, confirmed that his team was “on the job” in filing the FIR against Thomas.

On Friday, Thomas held a sudden press conference in

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First Published: Sep 28 2019 | 1:52 AM IST

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