Once HDIL became a listed company

in 2007, the company’s funding

requirements became ‘huge’.
When one of the company’s projects
was terminated in 2013, HDIL
started facing liquidity crunch. Large
outstanding loans were still not
classified as NPAs as it would have
‘affected the profitability of the
bank’.

Two years after PMC Bank

started its operations in 1984, In 1986-87, the family infused
the bank feared closure due to further capital of Rs 13 lakh and by the time Rakesh Kumar
Rajesh Kumar Wadhawan, the When again faced with a liquidity
‘unlawful deeds’ by its members. started taking loans and Wadhawan started banking with
then director of Land crunch in 2004, Rajesh Kumar
That’s when Rajesh Kumar advances from the bank in the PMC, 60 percent of the bank’s
Development Corporation, Wadhawan deposited more than
Wadhawan, brother of Rakesh late 1990s. Thomas says these transactions were with the
infused capital into the bank. Rs 100 crore into the PMC Bank
Kumar Wadhawan, who is the accounts were regularised on a Wadhawan family
present director of HDIL, regular basis
intervened