The DCB (Detection of Crime Branch) police have arrested a bank manager in Vadodara who was involved in the ₹122 crore scam of Mumbai’s New India Bank. The accused has been handed over to the Mumbai police for further investigation.
A case was registered with Mumbai’s Economic Offences Wing (EOW) against the manager of New India Cooperative Bank in connection with fraudulent transactions worth ₹122 crore at the bank’s Goregaon and Prabhadevi branches. To evade arrest, the accused, Kapil Kalyanji Dedia resident of Jaipur, Rajasthan, was on the run.
Upon receiving information that the accused was hiding in Vadodara, the DCB police launched a surveillance operation under the guidance of PI R G Jadhav.
Based on the intelligence gathered, the police arrested Kapil from the Navayard area of Vadodara.
The accused, from Aryavarta Complex, Dahisar East, Mumbai, was immediately handed over to the Mumbai police for further legal proceedings.
The scam came to light during an RBI investigation, which revealed financial irregularities. Following this, the Chief Executive Officer of New India Cooperative Bank filed a complaint.