India, March 17 -- Mumbai police's Economic Offences Wing (EOW) on Sunday arrested Ullhanathan Arunachalam alias Arun Bhai, 62, in connection with the alleged New India Co-operative Bank fraud. The sixth person to the arrested in the case, Arunachalam was absconding since the fraud surfaced last month. He was produced in court on Sunday and remanded in police custody till March 18.

Arunachalam, Arunachalam was absconding since the fraud surfaced last month, runs a partnership firm. He visited the New India Cooperative Bank in March 2013 for business purposes and befriended the main accused, Hitesh Mehta, ex-general manager of the bank. Police claim that he was close to

Mehta and had received Rs.40 crore from the Rs.122 crore siphoned by...