Hiren Bhanu, the absconding former vice chairman of the New India Cooperative Bank, and his wife Gauri Bhanu—both currently believed to be abroad—have submitted written statements to the Economic Offences Wing (EOW), denying any involvement in the Rs 122 crore embezzlement scam that has rocked the bank. The couple has also formally requested permission to appear before the EOW via video conferencing. Officials, however, are yet to take a call on whether such virtual statements will be permitted. Bhanu’s counsel Sajal Yadav has confirmed this.

Bhanu couple deny Involvement, blame Hitesh Mehta

In their statements submitted separately on March 18, 2025, Hiren and Gauri Bhanu have denied all allegations linking them to the Rs 122 crore embezzlement scam and claimed they are being falsely implicated. They are accused of colluding with the main accused, Hitesh Mehta—who allegedly siphoned off the funds—of which Hiren Bhanu is said to have received Rs 26 crore and Gauri Bhanu Rs 2 crore.