The Wadhawans have been in jail since 2019. Both of them were arrested by the Mumbai Police in connection with the Rs 6,670 crore Punjab and Maharashtra Co-operative (PMC) bank scam.
The NCLAT found that more than 99 percent of the sanctioned amount – Rs 147.6 crore by Yes Bank in Mack Star s name – was returned to the bank on the same day or within a short period of time.
Get latest articles and stories on India at LatestLY. The Bombay High Court has granted bail to Madan Chaturvedi, chartered accountant of Vivo Group in connection with the Rs 4,300-crore PMC Bank alleged fraud case. He was arrested on January 23, 2021, and since then was in custody in the case. India News | PMC Bank Fraud Case: Bombay HC Grants Bail to Vivo Group s Auditor.