Hitesh Mehta, the prime accused in the New India Co-operative Bank scam, has admitted to transferring a nine-digit sum to the bank’s former senior executive. Following this revelation, the Economic Offences Wing (EOW) searched the executive’s premises, but he remains untraceable and has reportedly been unreachable for the past few days. The EOW is investigating the disappearance of Rs 122 crore from the bank’s cash vault—a shortfall discovered during an inspection on February 12. After the Reserve Bank of India (RBI) flagged the issue, the bank was instructed to file a complaint with the Mumbai police, and the case was subsequently transferred to the EOW. During interrogation, Mehta confessed his involvement to the RBI. 

So far, the EOW has arrested Mehta, SRA developer Dharmesh Paun, and former CEO Abhimanyu Bhoan. According to sources, Mehta initially claimed to have transferred R70 crore to Paun—who has already been arrested—and Rs 40 crore to an individual identified as Arun Arunachalam alias “Anna,” who is currently absconding. He has now admitted to transferring an additional nine-digit sum to the former senior executive. “We need clarity from him, and we have reached out, but he remains unreachable,” said an officer involved in the investigation.