<p>Former New India Cooperative Bank General Manager (GM) Hitesh Mehta was on Saturday evening arrested by the <strong><a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/mumbai-polices-eow-begins-investigation-new-india-cooperative-bank-irregularities-23483799" target="_blank" rel="none noopener">Economic Offences Wing</a></strong> (EOW) of Mumbai Police, the officials said.</p>
<p>Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai, an official said.</p>
<p>He was brought to the office of the EOW in south Mumbai for further questioning in the matter, sources said, adding that his arrest was followed by detailed interrogations.</p>
<p>The EOW had on Friday launched an investigation into the alleged 'irregularities' at New India Cooperative Bank, official sources said.</p>
<p>Mumbai Police has registered a case against Hitesh Mehta for allegedly siphoning Rs 122 crore from its treasury, the case has been transferred to the EOW which has been probing the matter further.</p>
<p>The case was filed based on a complaint by the bank&rsquo;s Chief Accounts Officer at Dadar <a href="https://www.mid-day.com/mumbai/mumbai-news/article/mumbai-jj-marg-police-helps-dentist-recover-bag-left-in-cab-in-30-minutes-23483676" target="_blank" rel="none noopener"><strong>Police</strong></a> Station.</p>
<p>Based on the complaint, a case under the Bharatiya Nyaya Sanhita (BNS) sections 316 (5) (criminal breach of trust by public servants, bankers, and others in positions of trust), 61(2) (criminal conspiracy) was registered, he said, adding that the case was then transferred to the EOW considering its scope.</p>
<p>Mehta, who oversaw the Dadar and Goregaon branches, is accused of misusing his position to commit fraud between 2020 and 2025.</p>
<p><iframe title="YouTube video player" src="https://www.youtube.com/embed/QlUWEY23pN8?si=OlbOYXM0228bpBJs" width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p>
<p>The Reserve Bank of India (RBI) on Friday superseded the cooperative bank's board for a year and appointed an administrator to manage its affairs.</p>
<p>A day prior, the RBI had imposed several restrictions on the lender, including on withdrawal of funds by depositors, citing supervisory concerns emanating from the recent material developments in the bank, and to protect the interest of its depositors.</p>
<p>After imposing business restrictions on the city-headquartered New India Cooperative Bank, the <a href="https://www.mid-day.com/mumbai/mumbai-news/article/exclusive-rbi-restrictions-on-new-india-cooperative-bank-only-have-one-savings-account-how-will-i-survive-asks-angry-customer-in-mumbai-23484105" target="_blank" rel="none noopener"><strong>Reserve Bank of India</strong></a> on Friday superseded the lender's board citing governance lapses and appointed an administrator to revive it.</p>
<p>New India Cooperative Bank has 28 branches and most of them are located in Mumbai, while two are in Surat in neighbouring Gujarat and one in Pune.</p>
<p>The RBI's action against the bank triggered panic among its customers, who thronged its branches since morning on Friday hoping to access their savings, but were denied entry into the premises.&nbsp;</p><p>
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Former New India Cooperative Bank General Manager Hitesh Mehta was on Saturday evening arrested by the Economic Offences Wing (EOW) of Mumbai Police

Former New India Cooperative Bank General Manager Hitesh Mehta arrested by EOW of Mumbai Police

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Former New India Cooperative Bank General Manager (GM) Hitesh Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai, an official said

Former New India Cooperative Bank GM arrested by Mumbai Police's EOW

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