The Economic Offences Wing (EOW) of Mumbai Police has arrested an concurrent auditor in connection with the alleged Rs 4,355 crore scam at the Punjab & Maharashtra Cooperative (PMC) Bank, an official said on Wednesday.

This is the eighth arrest in the case.

XXXXXXXXX (35), a 'Concorrent Auditor' of the bank, was arrested on Tuesday, a senior police official said.

Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions, he said.

XXXXXX audited the bank's transactions monthly, but allegedly could not or did not point out irregularities in its processes.

She was called for questioning and later arrested, the official said, adding that she was remanded in EOW custody by a local court till November 18.

On Monday, the EOW had arrested two statutory auditors in connection with the scam. They are suspected to have played a key role in covering up the irregularities in the bank.

The EOW suspects a nexus between some of the accused and realty group HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to appointment of administrator and restrictions on withdrawal of funds.

Earlier, the EOW had arrested three top bank officials and two promoters of HDIL -- Rakesh and Sarang Wadhawan -- in the scam. #casansaar (Source - PTI, Economic Times)