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PMC Bank chairman Waryam Singh's connection with HDIL runs deep

Waryam Singh held 1.91% stake in HDIL till 2017

Waryam Singh, chairman of Punjab & Maharashtra Co-operative Bank (Illustration: Ajay Mohanty)
Waryam Singh, chairman of Punjab & Maharashtra Co-operative Bank (Illustration: Ajay Mohanty)

S Waryam Singh, chairman of Punjab & Maharashtra Co-operative Bank (PMC Bank), held 1.91 per cent in real estate company Housing Development & Infrastructure (HDIL) till September 2017. Singh, 67, who joined the HDIL board as director in 2005, quit to return to the bank as chairman in 2015, a position he had held between 1999 and 2005. While Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders. He remained a director on ...