Amid growing panic among account holders of New India Co-operative Bank, the Mumbai Police have registered a case against the bank’s former General Manager, Hitesh Praveenchand Mehta, for allegedly siphoning Rs 122 crore from its treasury.

Mehta, who oversaw the Dadar and Goregaon branches, is accused of misusing his position to commit fraud between 2020 and 2025. The case was filed based on a complaint by the bank’s Chief Accounts Officer at Dadar Police Station.