New Delhi, March 15 -- The Economic Offences Wing (EOW) of Mumbai police arrested the wanted accused Kapil Dedhia in connection with the New India Cooperative Bank's Rs.122 crore embezzlement case.

Kapil Dedhia was arrested from Vadodara on Friday as part of a coordinated operation and was brought to Mumbai on Saturday.

"He was formally arrested at 11.30 a.m. and presented before the court, which remanded him to police custody till March 19, 2025," said EOW.

Investigations revealed that Rs.12 crore was credited to his account, which is part of the misappropriated funds siphoned from the bank.

"It has been further established that a portion of this amount was received from Dharmesh Paun, the builder of Dharmesh Realty, while another po...