Major Breakthrough in Rs 122 Crore Bank Scam

In a significant development, the Mumbai Economic Offences Wing (EOW) has arrested Kapil Dediah, a civil contractor, in connection with the Rs 122 crore New India Cooperative Bank scam. Dediah, who is in his mid-40s, was apprehended in Vadodara and brought to Mumbai for further interrogation. This arrest marks the fifth in a series of detentions related to the scandal, highlighting the depth and complexity of the financial irregularities involved.

Unraveling the Financial Web

Investigations have revealed that Dediah received Rs 12 crore from the misappropriated funds, with portions of the amount traced back to other accused individuals, including developer Dharmesh Paun and wanted accused Arunbhai Arunachalam. The EOW, under the leadership of chief Nishith Mishra, is diligently working to map the entire fund flow and identify all parties involved in this elaborate scam.

International Manhunt

As the probe deepens, the EOW has issued lookout circulars against several key figures, including the bank's ex-chairpersons Hiren Bhanu and his wife Gauri, who have fled the country. The couple is believed to have received Rs 28 crore from the missing funds, adding another layer of intrigue to this already complex case.