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A scam at the New India Cooperative Bank in Maharashtra revealed that former general manager Hitash Mehta embezzled Rs 122 crore, in which the employees were instructed to withdraw Rs 50 lakh from the bank’s chest.
The RBI investigation revealed an discrepancy of Rs 122 crore from two volt of the bank. (News18 Hindi)
A shocking revelation has come to light about the embezzlement of the fund from the New India Cooperative Bank in Maharashtra. Serious allegations have been made against Hitesh Mehta, former general manager of the bank.
It has been reported that he directed his two employees to withdraw Rs 50 lakh from the bank’s vaults at a time and according to the police officials, handed over the people sent to the bank. This revelation has expressed concern about the safety of public funds deposited in the bank.
Mehta and real estate developer Dharmesh Poon is in custody from 16 February in connection with the alleged embezzlement of Rs 122 crore from the bank, which came to light after an investigation by the Reserve Bank.
“Mehta, as the patron of the bank, had access to the vault. The statements of two bank employees were recorded, stating how they distributed cash to the persons sent by Mehta. A police officer said that these employees now told the witnesses in the matter that they gave a total cash of Rs 50 lakh to many persons on many occasions.
He said that the investigation has revealed that a former bank employee wrote a letter to the RBI about the current situation. He said that this information is being confirmed with RBI. The official said that the officials were aware of the adverse situation of the bank, as the NPA is increasing due to distribution of money to unqualified persons.
“In the light of the bank’s status in the last two years, an investigation is underway to determine why the misuse of funds was not identified in the audit. Statements are being taken from people involved in auditing, “the official said.
According to reports, the missing money was Rs 138 crore in cash. However, the investigation by the Reserve Bank of India (RBI) revealed an discrepancy of Rs 122 crore from the bank’s two volts. The Economic Offenses Wing (EOW) is currently investigating whether the fund was stolen in the same incident.
The official confirmed that Abhijeet Deshmukh, a partner of a chartered accountancy firm involved in the bank audit, made a statement to economic crimes in the Commission of South Mumbai.
“The statement of Abhimanyu Bhone, former Chief Executive Officer (CEO) of the bank, was recorded on Wednesday. The official said on Thursday, “He has been called again today in connection with the investigation.
Meanwhile, the accused, Unnahanathan Arunachalam, also known as Arun Bhai, who received Rs 50 crore from Mehta, remain largely.
