12-day police remand for suspended MD

Suspended managing director of PMC Bank Joy Thomas was produced before a court on Saturday and remanded in police custody till October 17.
The police said Thomas had asked one of his aides to create a spreadsheet and make a list of 21,049 non-functional accounts on it. They said these accounts were shown as accounts of borrowers who had failed to repay their outstanding.The list was submitted to RBI. The police sought 14 days’ custody to interrogate Thomas. SG Shaikh, additional chief metropolitan magistrate sent Thomas to police custody for 12 days.