DOI Page / Citation link:
https://doi.org/10.11588/diglit.27741#0187
There is not the least doubt of the
fact that the wreck of the old Bank of
Bombay was primarily owing uo the
abnormal advances which Mr. Premchund
was able so easily to obtain for himself
and his friends. The report of the Bank
of Bombay Commission amply corrobor-
ates that fact. That Commission had
held a most searching investigation of
the bank's accounts and elicited any
amount of irrefragable evidence from the
cross-examination of a number of wit-
nesses. The Commission have, on the
basis of that evidence, left on record the
fact that the Bank had in all sustained a
loss of Rs. 2,04,68,991. The share of
the loss contributed by Mr. Premchund
is recorded in the following words :
" Premchund Roychund besides obtain-
ing large loans from time to time for
himself—the amount culminating in a
debt of 42 lakhs and upwards from him
to the Bank—obtained loans for other
persons who applied the money in the
159
fact that the wreck of the old Bank of
Bombay was primarily owing uo the
abnormal advances which Mr. Premchund
was able so easily to obtain for himself
and his friends. The report of the Bank
of Bombay Commission amply corrobor-
ates that fact. That Commission had
held a most searching investigation of
the bank's accounts and elicited any
amount of irrefragable evidence from the
cross-examination of a number of wit-
nesses. The Commission have, on the
basis of that evidence, left on record the
fact that the Bank had in all sustained a
loss of Rs. 2,04,68,991. The share of
the loss contributed by Mr. Premchund
is recorded in the following words :
" Premchund Roychund besides obtain-
ing large loans from time to time for
himself—the amount culminating in a
debt of 42 lakhs and upwards from him
to the Bank—obtained loans for other
persons who applied the money in the
159