New Delhi, March 16 -- Economic Offences Wing (EOW), Mumbai, has arrested Arunachalam Ullahanathan Maruthuvar, a wanted accused in the New India Co-operative Bank (NICB) misappropriation case. Arunachalam, who had been absconding for the past one month, surrendered at the EOW office in Mumbai on Sunday morning, EOW informed. Arunachalam Ullahanathan Maruthuvar, also known as Arun Bhai, is accused of receiving a significant portion of the embezzled funds.

EOW stated that it is alleged that Arunachalam Ullahanathan Maruthuvar received approximately Rs.30 crores from the misappropriated funds of NICB from the main accused Hitesh Mehta.

EOW had deployed multiple teams across various parts of India to trace Arunachalam during his period of a...