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        <h1>Economic Offences Wing Probes Rs 122-Crore Embezzlement at New India Cooperative Bank; Arrests Made, Audit Firms Summoned</h1> Mumbai Police's Economic Offences Wing is investigating a Rs 122-crore embezzlement at New India Cooperative Bank, summoning representatives from six audit firms involved during 2019-2024. The probe includes questioning partners from M/s Sanjay Rane Associates and other firms. Former bank CEO, ex-general manager, and a real estate developer have been arrested. The misappropriation was discovered after an RBI inspection, leading to a complaint by the bank's acting CEO. Charges include criminal breach of trust and conspiracy. The RBI has taken control of the bank's board, appointing an administrator for a year.

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