Arunachalam Ullahanathan, a wanted accused in the New India Cooperative Bank scam, surrendered to the Economic Offences Wing (EOW) officials after evading arrest for over a month. According to EOW officials, Ullahanathan was taken into custody after surrendering in Mumbai and was subsequently produced before the Esplanade court.
 
The 62-year-old, who worked as an electrical contractor, had met the key accused former General Manager Hitesh Mehta before becoming involved in the New India Cooperative Bank fraud. Authorities allege that Mehta misappropriated Rs 40 crore and handed it over to Ullahanathan. “The main accused, Hitesh Mehta, confessed that he had given Rs 40 crore to Arunachalam,” a police officer said.

(Left) Hitesh Mehta, former GM of the New India Co-operative Bank produced in the Esplanade court. FILE PIC/ASHISH RAJE