More than 2000 accounts linked to the New India Cooperative Bank scam have turned into non-performing assets (NPAs), the Economic Offences Wing (EOW) has said. EOW conducted a preliminary enquiry into these NPA accounts following a complaint by an account holder. The complainant alleges that nearly R400 crore worth of loans have turned into NPAs.

This revelation comes in addition to the Rs 122 crore embezzlement case, in which the EOW has already arrested seven individuals. The fresh probe into the NPA accounts has unearthed shocking claims — that loans were allegedly granted to ineligible individuals by former Vice Chairman Hiren Bhanu and his wife, Gauri Bhanu, who is the acting Chairman. The Bhanu couple, who are wanted in the Rs 122 crore scam, are currently believed to be abroad.