Mumbai, Feb. 16 -- Two days after the Reserve Bank of India (RBI) imposed restrictions on New India Cooperative Bank (NICB), the Economic Offences Wing (EOW) of the Mumbai police on Saturday arrested its former General Manager Hitesh Mehta in a Rs 122 crore funds' embezzlement case.
Mehta's arrest came after the NICB's chief executive officer Devarshi Shishir Kumar Ghosh lodged a complaint against him with the Dadar police on Friday. Mehta will be produced before a holiday court on Sunday.
Ahead of Mehta's arrest, the EOW officers raided his residence at Dahisar in north Mumbai and seized some incriminating documents.
In his complaint, the Bank's CEO has alleged that Mehta and one of the senior employee of the bank had in their custody t...