MUMBAI: Economic Offences Wing (EOW) of Mumbai police on Sunday arrested Ulhanathan Arunchalam Maruthuvar (62), an alleged key figure in the Rs 122 crore New India Coop Bank scam, reports Ahmed Ali. Absconding since Jan, he was held near the police headquarters at Crawford Market late on Saturday.
Sources indicated that after EOW issued a lookout circular and conducted raids at his homes in Mumbai and Andhra Pradesh, his escape routes were limited. On Saturday, as he approached the vicinity of police headquarters, EOW officials detained him. Arunachalam was presented in a holiday court on Sunday and remanded in police custody until Mar 18.
His arrest is the sixth in this financial fraud case. EOW has previously arrested the bank’s GM and head of accounts, Hitesh Mehta (57), developer Dharmesh Paun (57), the bank’s ex-CEO Abhimanyu Bhoan (45), and Manohar Arunachalam (33), a Dahisar resident. EOW officers also detained Kapil Dediah, a civil contractor, for allegedly receiving Rs 12 crore from the bank’s misappropriated funds. Arunchalam’s son, Manohar, is also in judicial custody.
