Economic Offences Wing vs New India Cooperative Bank officials

Updates

1. News28 Jun 2025

   3 accused in New India Coop Bank case refused bail

   Arunachalam's advocate submitted that no purpose would be served by keeping him in custody as he is not involved in the present crime.

   Explanation in simple terms

   Three officials from the New India Cooperative Bank have been denied bail in a case involving financial crimes. This means the court has decided they must remain in custody while the investigation continues. They will not be allowed to go home until the legal process reaches a further stage or a judge changes this decision. The authorities are continuing their work on the case against them.

   hindustantimes.com
2. News4 Apr 2025

   Mumbai magistrate court nod for EOW to attach 21 properties worth Rs 168 crore in New India bank case

   The EOW, conducting a preliminary inquiry into allegations of a loan of Rs 400 crore granted after taking bribes, are also probing the role of an asset...

   Explanation in simple terms

   A Mumbai court has given the police permission to seize 21 properties linked to officials from the New India Cooperative Bank. These properties are worth 168 crore rupees and are being held as part of an ongoing investigation into financial crimes. By attaching these assets, the authorities are preventing the officials from selling or transferring them while the case proceeds. This action is a step toward recovering funds related to the alleged wrongdoing at the bank.

   timesofindia.indiatimes.com