Years
New India Cooperative Bank General Manager and Accounts Head Hitesh Mehta was sent to police custody by a court till 21 February for further investigation into the alleged embezzlement of Rs 122 crore from the bank.
New India Cooperative Bank General Manager and Accounts Head Hitesh Mehta was sent to police custody by a court till 21 February for further investigation into the alleged embezzlement of Rs 122 crore from the bank. The Economic Offenses Branch of the police (EOW) produced Mehta and another accused in the case Dharmesh Paun in a holiday court here.
According to the police, the bank’s caretaker Chief Executive Officer Devarshi Ghosh on Friday lodged a complaint against Mehta and others at Dadar Police Station in Central Mumbai regarding the alleged embezzlement of the bank’s money. On the basis of the complaint, the police registered a case in the early hours of Saturday and the investigation was handed over to EOW.
The complainant alleged that Mehta and his colleagues conspired and embezzled Rs 122 crore from the chest of Prabhadevi and Goregaon branches of the bank. A case has been registered under Section 316 (5) of the Indian Penal Code (criminal betrayal by government employees, bankers and other persons sitting in reliable positions) and 61 (2) (criminal conspiracy).
The Reserve Bank of India (RBI) on Friday dissolved the cooperative bank board for a year and appointed a administrator for management of its affairs. A day earlier, it imposed several restrictions on the lender, including the depositors withdrawing money, citing concerns arising from the recent developments in the bank.
Other news
