Case filed towards basic supervisor, will depositors get again cash? – India TV
Mumbai: In a big growth, Mumbai police mentioned they’ve registered a case towards the New India Cooperative Financial institution’s Normal Supervisor and Head of Accounts alongside along with his associates for allegedly embezzling Rs 122 crore of funds, officers mentioned on Saturday. The case has been transferred to the Financial Offences Wing (EOW) of the town police for additional investigation, an official mentioned.
The Reserve Financial institution of India (RBI) on Thursday imposed a number of restrictions on the cooperative financial institution, together with on withdrawal of funds by depositors, citing supervisory considerations emanating from the latest materials developments within the financial institution, and to guard the curiosity of its depositors.
On Friday, the RBI outmoded the lender’s board for a 12 months, and appointed an administrator to handle affairs and in addition appointed a committee of advisors to help him.
The police official mentioned, “Performing Chief Govt Officer of the financial institution, Devarshi Ghosh, on Friday approached the Dadar police station in central Mumbai and lodged a criticism of misappropriation of funds.”
“As per the criticism, the financial institution’s basic supervisor and head of accounts, Hitesh Mehta, together with different associates hatched a conspiracy and embezzled Rs 122 crore from the cash stored within the safes of Prabhadevi and Goregaon workplaces of the financial institution,” he mentioned.
Primarily based on the criticism, a case below the Bharatiya Nyaya Sanhita (BNS) sections 316 (5) (felony breach of belief by public servants, bankers, and others in positions of belief), 61(2) (felony conspiracy) was registered towards Mehta and others, he mentioned.
Contemplating the scope of the investigation, the case was then transferred to the EOW, he mentioned, including that the company has launched a probe.
A lot of the 28 branches of this cooperative financial institution are situated within the Mumbai megapolis, and it additionally has two branches at Surat in neighbouring Gujarat and one in Pune.
The RBI’s motion towards the financial institution triggered panic amongst its prospects, who thronged its branches since morning on Friday hoping to entry their financial savings, however had been denied entry into the premises.
