In an important development, the Enforcement Directorate (ED) plans to release Housing Development and Infrastructure (HDIL)’s mortgaged assets with PMC Bank.
PMC Bank Latest News Today: There is some good news for the Punjab and Maharashtra Co-operative (PMC) Bank account holders. In an important development, the Enforcement Directorate (ED) plans to release Housing Development and Infrastructure (HDIL)’s mortgaged assets with PMC Bank.
Zee Business reporter Anjani Pandey reported that the ED plans to release HDIL’s mortgaged assets with PMC Bank. The release will be like the Vijay Mallya case, Rs 2400 crore assets will be released. It has also been reported that that the payment to account holders incurred will reduce the liability of the Centrum.
It has to be noted that the HDIL PMC Bank had a basic arrear of Rs 2549 crore and the release of assets of Rs 2400 crore will compensate 90 per cent of the original dues. This has been decided over a meeting between the ED and the PMC administrators.
The Centrum did not want to comment on the news.
Earlier. according to a statement released by Deposit Insurance and Credit Guarantee Corporation (DICGC), PMC account-holders can get up to Rs 5 lakh.
It has to be noted that DICGC has released a list of 21 banks whose accountholders will likely get up to Rs 5 lakh. The operations of these banks have been shut.
As per the information provided by DCIGC, claims shall be settled in terms of Section 18A of the Act ibid and the claim settlement procedure of the Corporation. Necessary instructions have been issued to these banks to submit the claims within 45 days after obtaining the willingness of depositors to claim deposit insurance.
The verification and settlement of the claims on submission by the banks in the aforesaid list shall be done within the next 45 days by DICGC (November 29, 2021).
These banks will have to submit a claim list by October 15, 2021 and update the position as on November 29, 2021 (with principal and interest), in a final updated (second) list, to enable DICGC settle the claim and discharge its insurance liability in full as per norms.
Unpaid (updated willingness list) / difference in amount of deposits up to eligible amount (as per final updated list submitted by November 29, 2021) will be paid within 30 days of receipt that is by December 29, 2021.
