India, March 26 -- The Economic Offences Wing (EOW) of the Mumbai Police has widened its investigation into the alleged misappropriation of Rs.122 crore from the cash reserves of New India Cooperative Bank, after receiving a complaint about the alleged disbursal of loans worth crores of rupees to ineligible borrowers.

Accordingly, the acting chief executive officer (CEO) of the scheduled bank on Tuesday appeared before the EOW to furnish information about loans advanced by the bank in the recent past.

The EOW is investigating allegations of alleged misappropriation of Rs.122 crore from the bank's cash reserves by its executives, the main accused being the bank's general manager (accounts), Hitesh Mehta.

After receiving a complaint abou...