India, March 29 -- An additional chief judicial magistrate court on Friday extended the police remand of two persons arrested in connection with the alleged embezzlement of Rs.122 crore from the cash reserves of New India Cooperative Bank. This was after police told the court that one of the accused - Javed Azam, younger brother of BJP's former Maharashtra secretary Hyder Azam - had opened 10 electronic showrooms in Bihar from the proceeds of crime and they were in the process of seizing the stores.

Additional chief judicial magistrate RB Thakur of the Esplanade metropolitan magistrate court extended the police custody of Azam and Rajeevranjan Pandey alias Pawan Gupta till April 1, while two other accused, Kapil Dedhia and Unnanathan Aru...