Mumbai police file FIR in PMC Bank fraud case; ED may initiate probe soon

Police to set up SIT team, hire forensic auditor

A first information report was registered against Punjab and Maharashtra Co-operative Bank Chairman S Waryam Singh, office-bearers, suspended managing director Joy Thomas, Housing Development & Infrastructure (HDIL), its associate firms and promoters Rakesh and Sarang Wadhawan, among others, by the economic offences wing (EoW) of the Mumbai Police on Monday. 

A look out notice has also been issued against Thomas, sources told Business Standard. According to a PTI report, a lookout circular was also issued against Wadhawans. 

The Enforcement Directorate is likely to register a case under the Prevention of Money Laundering Act in the next few days based on