In a major development in the New India Co-operative Bank scam, the police’s Economic Offences Wing (EOW) has declared former vice-chairman Hiren Bhanu and his wife, Gauri Bhanu—the current vice-chairman and acting chairman of the bank—as wanted accused. Their names surfaced after investigations revealed they allegedly received a significant portion of the Rs 122 crore siphoned from the bank’s cash vaults.
 
An EOW officer confirmed, “The former vice chairman and his wife, who is the acting chairman and current vice chairman, have been declared wanted accused in the case.” More details have emerged, revealing that the couple fled the country even before the Mumbai police were informed and the FIR was registered. Sources indicate that Hiren Bhanu left in the last week of January, while his wife followed in the second week of February. Meanwhile, the Reserve Bank of India (RBI) conducted an inspection on February 12 and discovered that Rs 122 crore was missing from the cash vaults of the bank’s Prabhadevi and Goregaon branches. The bank lodged a complaint with the police on February 13, and the FIR was registered on the intervening night of February 14 and 15. The case was later transferred to the EOW for further investigation. 

Customers rush to the New India Co-op Bank in Andheri after strict withdrawal curbs were announced. Pics/Nimesh Dave