 "PMC Bank")
The Ministry of Corporate Affairs (MCA) has ordered an inspection into Housing Development and Infrastructure (HDIL) to see if it was a business failure or a case of mismanagement, a senior government official said.
The MCA has already issued a lookout circular against the founders of HDIL, the official confirmed. "If a bank has sunk because of exposure to one company, it is worth looking into," he said.
The Mumbai police on Monday filed a case against Punjab and Maharashtra Co-operative (PMC) Bank and HDIL officials for allegedly violating Reserve Bank of India (RBI) norms by extending loans to the
