MUMBAI: Statutory auditors of Punjab and
Maharashtra Cooperative (PMC) bank, Ketan Lakdawala (60) and Jayesh Sanghani (61), arrested for their role in the Rs 6,500-crore
loan fraud case
, were on Wednesday produced before Esplanade court and remanded to police custody till November 15. Lakdawala and Sanghani were summoned for questioning on Tuesday and later arrested. An officer from city economic offences wing (EOW) said the two were arrested for negligence and flouting certain rules in the audit process.
The number of arrests in the case has gone up to seven. EOW had arrested HDIL father-son directors Rakesh and Sarang Wadhawan, and the bank's ex-chairman, Waryam Singh and bank's ex-MD Joy Thomas among others.
Mateen Hafeez, special correspondent at The Times of India in Mum...
Read MoreMateen Hafeez, special correspondent at The Times of India in Mumbai, reports on terrorism, underworld, cybercrime and organized crime syndicates. He also writes about the jails in Maharashtra and focuses on human interest stories. He has covered the Ghatkopar bomb blast, Vile Parle bomb blast, Mulund train blast, train serial blasts in 2006, 26/11 terror attacks and Pune's German Bakery bomb blast. He has a special interest in Urdu fiction written by Ibn-e-Safi.
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