Hitesh Mehta, the prime accused in the New India Co-Operative Bank scam, confessed to taking Rs 122 crore in cash from the Goregaon and Prabhadevi lockers of the bank between 2020 and 2025, according to Economic Offences Wing (EOW) sources. The police have also arrested a builder, Dharmesh Paun, to whom Mehta had transferred over Rs 70 crore.
 
The matter came to light on Friday when the Reserve Bank of India (RBI) imposed restrictions on the Mumbai-based bank over alleged financial irregularities.
The complainant Devarshi Ghosh, 48, the bank’s acting chief executive officer, had told the police that Mehta had allegedly hatched a plan to siphon R122 crore from Prabhadevi and Goregaon branches’ lockers.

(Left) Hitesh Mehta, former general manager of the New India Co-operative Bank is produced in the Esplanade court on Sunday. Pic/Ashish Raje