Sixth Accused Surrenders in ₹122 Crore New India Cooperative Bank Scam

Economic Offences Wing arrests key suspect linked to embezzlement case after a month-long search across multiple states.

Ulhanathan Arunachalam, also known as 'Arun Bhai,' surrendered to Mumbai Police after evading arrest for over a month.
Arunachalam is accused of laundering ₹40 crore received from the prime suspect, Hitesh Mehta, the bank's former general manager.
The ₹122 crore scam led to the Reserve Bank of India imposing operational restrictions on the bank, including suspending deposit withdrawals.
Another suspect, Kapil Dedhia, was arrested in Vadodara, Gujarat, and is accused of receiving ₹12 crore of the misappropriated funds.
The Economic Offences Wing continues its investigation, with several suspects still at large, including the bank's former chairman and vice-chairperson, who are believed to have fled abroad.