New Delhi: Two directors of Housing Development and Infrastructure Ltd (HDIL) were arrested on Thursday as the investigation of the bankrupt realty company’s dealing with the Punjab and Maharashtra Co-operative Bank (PMC) picked up pace.According to multiple media reports, including two TV news channels, Sarang Wadhawan and Rakesh Wadhawan were arrested by the Economic Offences Wing (EOW). They had been called in for questioning on Thursday morning.Investigators also froze the bank accounts of suspended PMC Bank chief, Joy Thomas.According to reports, PMC allegedly used thousands of fictitious accounts to hide loans it made to HDIL, leading to a loss of at least Rs 4,355 crore.The arrests also come after the EOW filed a FIR earlier this week against officials of the cooperative lender and HDIL. The police also formed a special investigation team to probe the matter. The FIR has claimed that the bank faked loan records to under-report the company as a non-performing asset.The crisis become public last week after the Reserve Bank of India placed severe restrictions on the bank, limiting cash withdrawals per account to Rs 1,000 and then later Rs 10,000, after discovering the alleged fraud.(With inputs by arrangement from Business Standard).