Mumbai: The Bhandup police have filed an FIR against Subham Commercial Enterprises Pvt. Ltd., its directors Nimit Laxmichand Kheda, Ruchik Laxmichand Kheda, Laxmichand Damji Kheda, as well as former Managing Director Joy Thomas and former Chief Manager Kamaljit Kaur Banwet of Punjab and Maharashtra Co-operative Bank (PMC Bank), in connection with an alleged Rs 14.5 crore fraud involving a property transaction.

Unity Bank Flags Fraudulent Deal Post PMC Bank Merger

According to the FIR, the complaint was lodged by Vijayakumar, 48, Senior Vice President (Head, Special Asset Units) at Unity Small Finance Bank, where he has been working since November 1, 2021.

Unity Bank, which had absorbed PMC Bank following RBI directives in January 2022, had granted Vijayakumar power of attorney on June

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