Investors of diverse backgrounds have made a joint bid for the scam -hit lender PMC Bank. The investors are a German agency advertising pharmaceutical merchandise, two Mauritius-based offshore buyers and a Dubai-based company, reports Business Today.
The foreign investors will give the final touches to their investment plans after getting an in-principle approval from RBI. The administrator for PMC Bank had set February 1 as the deadline for submitting final offers.
Sometime ago, RBI governor Shaktikanta Das had said three investors had submitted their offers for the reconstruction of PMC Bank and evaluations for those were underway. The PMC bank – has been under RBI moratorium since September 23, 2019.
Why are they not auctioning off the confiscated assets of the Wadhawans, the PMCB directors, the MD, the CEO and all the properties vested with their extended families? I’m given to understand the proceeds can be used to revive the bank.
Resolution may not be possible till s change in Government in Maharashtra