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    PMC Bank loan case: Company claims Rs 30 crore disbursed, Rs 170 crore demanded

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    The financial case involving Punjab and Maharashtra Co-operative (PMC) Bank has widened with fresh details about Awas Developers and Construction Pvt. Ltd.

    The company said it received only Rs 30 crore of the Rs 135 crore loan limits approved by the bank between 2008 and 2019, yet is now facing repayment claims of over Rs 170 crore.

    Records show that PMC Bank sanctioned fresh credit limits for Awas Developers at different intervals: Rs 75.25 crore in 2015, Rs 65.25 crore and Rs 10 crore in 2017, and Rs 135 crore in 2019.

    However, there is no proof of funds being disbursed after August 2012. The company claimed that despite no funds being released, the bank continued to apply interest charges, making it appear that the accounts were active.

    Awas Developers said that it offered land assets in Mumbai, Palghar and Thane as collateral, expecting the full loan amount to be disbursed. With no money received after 2012, the company claims it should only be liable for the Rs 30 crore it actually got.

    The arbitration claim filed by PMC Bank demanding Rs 170 crore has been described by the company as inflated and baseless.

    A similar pattern was reported in the case of Prithvi Realtors and Hotels Pvt. Ltd., where Rs 87.5 crore was sanctioned but no disbursement was made. Still, interest entries were posted, pushing the outstanding claim to over Rs 150 crore.

    The Reserve Bank of India’s 2019 inspection report on PMC Bank revealed over 21,000 irregular loan entries worth about Rs 5,000 crore. These entries were allegedly used to hide bad loans and present a better financial position to regulators and depositors.

    Awas Developers has now approached legal authorities and said it will only accept liability for actual funds received. The matter is under arbitration.

    – Ends

    Published By:

    Shipra Parashar

    Published On:

    Aug 2, 2025



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