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New India Coop Bank embezzlement: Ex-GM would phone staffers to take cash out from safes, say cops
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....ew India Coop Bank embezzlement: Ex-GM would phone staffers to take cash out from safes, say cops<BR>PTI News<BR>Dated:- 21-2-2025<BR>PTI<BR>Mumbai, Feb 21 (PTI) New India Coop Bank’s ex-general manager, Hitesh Mehta, used to call two staffers, instructing them to hand over Rs 50 lakh at a time from the bank’s safes to persons he sent, police officials have said. Mehta and real estate develo....
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....per Dharmesh Paun have been in custody since Sunday in connection with the alleged embezzlement of Rs 122 crore from the bank that was uncovered following an inspection by the Reserve Bank of India. The Economic Offences Wing of the Mumbai police is probing the case. “Mehta had access to the bank’s safes as he was the custodian. The statements of two bank staffers have been recorded. They ....
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....have said how they used to give cash to those sent by Mehta. These bank staffers, who are witnesses in the case, have said they handed Rs 50 lakh cash more than once to several persons,” the official said on Thursday. The probe so far has found that a former employee of the lender wrote to RBI about the prevailing situation, he said, adding this information is being verified with the RBI. Au....
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....thorities were aware the bank was in an unhealthy state since non-performing assets (NPAs) were rising following the disbursal of money to ineligible persons, the official said. “Considering the bank’s situation in the last two years, we are probing why the misappropriation of funds was not pointed out in audits. We have started recording statements of those who conducted the audits. While c....
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....ash as per the books was Rs 138 crore, an RBI inspection found Rs 122 crore of this missing from two safes of the bank. The EOW is verifying if the money went missing at one go,” the official said. The official said the statement of Abhijeet Deshmukh, a partner of the chartered accountancy firm involved in the bank’s audit, was recorded by EOW at the commissionerate in south Mumbai. “The....
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.... statement of the bank’s former CEO Abhimanyu Bhoan was recorded on Wednesday, He was called again today as part of the probe. Meanwhile, accused Unnathan Arunachalam alias Arun Bhai, to whom Mehta gave Rs 50 crore, is still absconding,” the official said on Thursday. PTI DC BNM NR<BR> News - Press release - PIB....