PMC Bank scam: SC stays HC order on sale of HDIL assets

New Delhi: The Supreme Court on Friday stayed the Bombay High Court order on the sale of the bankrupt Housing Development and Infrastructure Ltd (HDIL) as a measure to facilitate the repayment of dues of crisis-hit Punjab and Maharashtra Cooperative (PMC) Bank. The Reserve Bank of India moved the top court in an appeal challenging the Bombay High Court order. A bench headed by Chief Justice SA Bobe and comprising justices BR Gavai and Surya Kant took note of this appeal and issued a notice on RBI’s plea to parties concerned, including Sarosh Damania, who had moved the Bombay High Court seeking a resolution ensuring payment of dues to the account holders in PMC Bank. (IANS)

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