Mumbai Police’s Economic Offences Wing (EOW) arrested Rajneet Singh on November 16, 2019, in connection with its investigation into the Punjab and Maharashtra Co-operative (PMC) Bank crisis. Investigators questioned him about loans to Housing Development and Infrastructure Limited (HDIL) and efforts to recover the dues; those were allegations under investigation, not findings of guilt.
Who was Rajneet Singh?
Contemporaneous reports described Singh as a former PMC Bank director and a member of its loan recovery committee. The Indian Express later identified him by his full name, Rajneet Tara Singh Nandrajog, and reported that he was the son of former BJP legislator Sardar Tara Singh. The Indian Express’s 2021 bail report provides that later identification and role.
![The Law of Financial Institutions [Connected eBook] (Aspen Casebook)](https://m.media-amazon.com/images/I/31aJ2m4em4L._SL160_.jpg)
Why did the EOW arrest him?
The arrest was part of the EOW’s investigation into PMC Bank’s exposure to HDIL. Scroll reported that investigators questioned Singh about the HDIL loan and what steps he had taken to recover the dues. The report attributed to an EOW official the view that Singh’s explanations were “unsatisfactory and unconvincing” and hinted at a likely role in the scam. That was an investigative allegation reported by the news outlet, not a court’s conclusion that Singh was guilty.
How did HDIL figure in the bank crisis?
Contemporary coverage described the wider case as involving the alleged concealment or non-reporting of bad loans linked to HDIL. Defaults on those loans were reported as contributing to PMC Bank’s liquidity crisis. NDTV’s account of the investigation covered the reported HDIL connection and the bank’s liquidity problems.
Free tools Windows power users keep installed
One-click scans. No signup required.
#1 Best Overall
A Bombay High Court case record reproduced by Indian Kanoon refers to an alleged loss of Rs 4,355 crore. That figure appears in the 2021 record as an alleged loss; it should not be read as a final, adjudicated finding about the loss or Singh’s responsibility.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened after the arrest?
In April 2021, the Bombay High Court granted bail to Singh and two other former directors, according to The Indian Express. Bail is a procedural decision allowing release subject to the court’s terms; it is not an acquittal. The reports and court material cited here do not establish the final outcome of the criminal case.
Quick Recap
Rank #2
Key dates
- November 16, 2019: The EOW arrested Singh, a date reported contemporaneously and recorded in the later court material.
- November 17, 2019: Scroll published its report on the arrest and the EOW’s account of questioning him about the HDIL loan.
- April 2021: The Bombay High Court granted bail to Singh and two other former directors, as reported by The Indian Express.
- May 5, 2021: The reproduced High Court record includes the arrest date and the alleged-loss figure.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
