The Economic Offences Wing of Mumbai Police on Wednesday arrested former Punjab and Maharashtra Cooperative Bank Director Surjit Singh Arora, ANI reported. Earlier in the day, a special investigation team interrogated Arora at the city police headquarters in connection with a scam involving the bank, according to PTI.

Meanwhile, a court in Mumbai extended till October 23 the police custody of Housing Development Infrastructure Limited directors Rakesh Wadhawan and Sarang Wadhawan, and PMC Bank’s former Chairperson Waryam Singh, News18 reported. While the Wadhawans were arrested on October 3, Singh was held two days later for his alleged involvement in laundering money.

Earlier in the day, the Supreme Court agreed to hear on October 18 a petition seeking interim protective measures to insure around 15 lakh people whose money is stuck in the bank.

The Enforcement Directorate is looking into allegations that the bank did not report all non-performing assets, or bad loans, after providing funds to a number of companies. Earlier this month, the Reserve Bank of India imposed restrictions on the amount of money that can be withdrawn from the bank. The withdrawals have been capped at Rs 40,000 for six months.

Three account holders of the PMC Bank in Mumbai have died in the last 24 hours. Two of the three deaths occurred because of heart attacks allegedly caused by “severe stress”. The other depositor allegedly committed suicide.

Corrections and clarifications: News agencies got the name of the PMC Bank director wrong. It is Surjit Singh Arora and not Surinder Arora. The headline has been corrected.

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