<h1>Embezzlement allegation triggers police custody and regulatory takeover of cooperative bank for probe under criminal breach and conspiracy.</h1> Allegations of misappropriation by the cooperative bank's general manager led to his remand in police custody and registration of criminal proceedings for criminal breach of trust and criminal conspiracy. The matter is under investigation by the economic offences wing. Regulators have superseded the bank's board, appointed an administrator, and imposed withdrawal restrictions to protect depositors pending inquiry.