Two days after the Reserve Bank of India (RBI) imposed restrictions on the operations of New India Cooperative Bank, a First Data Report (FIR) has been registered on the Dadar Police Station in Mumbai, alleging financial embezzlement inside the financial institution.
The grievance, filed below related sections of the Bharatiya Nyay Sanhita (BNS), was lodged by Devarshi Shishir Kumar Ghosh, 48, the Appearing Chief Govt Officer (CEO) of the financial institution.
The first accused in the case is Hitesh Mehta, the Normal Supervisor of the financial institution. The FIR additionally names a number of of his colleagues, together with individuals serving as Normal Supervisor and Head of Accounts.
Based on the FIR, the accused allegedly misused their official positions, conspired, and embezzled Rs122 crore from the financial institution.
The investigation has been transferred to the Financial Offences Wing (EOW) of Mumbai Police. The probe might be carried out below the supervision of DCP Mangesh Shinde, who oversees banking-related financial crimes.
The RBI has imposed restrictions on the financial institution because of supervisory considerations and liquidity points. The directive, efficient from Thursday, bars the financial institution from permitting withdrawals however permits mortgage changes against deposits. Important bills like worker salaries, hire, and electrical energy payments can nonetheless be lined.
The Reserve Bank had come to know that the financial situation of this financial institution was not good.
The RBI is now elevating questions on whether or not the financial institution has sufficient cash or not. Due to this fact, individuals have been prohibited from withdrawing cash from their financial savings account, present account or another account.
The Reserve Bank has mentioned that these restrictions have been imposed to guard the pursuits of the purchasers.
Moreover, the financial institution is not going to have the authority to promote any of its property. These restrictions will stay in impact for a interval of six months, starting from February 13, 2025.
The restrictions brought on panic among the many depositors who rushed to the financial institution’s respective branches solely to be instructed that they could not withdraw their cash.
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