PMC Bank Case: Suspended MD Joy Thomas arrested by Mumbai police's EOW
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Economic Offences Wing of the Mumbai police arrested former MD of PMC Bank, Joy Thomas, on Friday in the ₹4,355 crore cheating case. This move came a day after arresting promoters of debt-ridden Housing Development Infrastructure Ltd (HDIL), chairman and managing director Rakesh Wadhawan and his son Sarang in the PMC Bank scam. The bank came under scanner after RBI found financial irregularities in the functioning.