Kriti Agrawal
Ranjeet Singh, Trupti Bane, and Mukti Bavisi, directors of the Punjab and Maharashtra Cooperative (PMC) bank, were granted bail by the Bombay High Court on Wednesday.
They are accused in the multi-crore PMC bank fraud. The Couty has granted them bail on the condition that they each post a Rs one lakh surety.
A single-judge bench led by Justice Prakash Naik has also instructed the trio not to leave the country without permission from the court. The judge has also directed them to surrender their passports to the Mumbai Police’s Economic Offences Wing (EOW).
The three is also asked to report to the EOW twice a week, according to advocate Rahul Gaikwad, who represents Bane and Bavisi.
The three argued in their defence that the charge sheet brought by the EOW lacks ample evidence to convict them. They also alleged that the majority of them entered the bank after 2011, while the prosecution claimed that the conspiracy for the fraud began in 2008-2009.
