₹122 Crore New India Co-Operative Bank Scam: Esplanade Court Issues Proclaimed Notice Against Ex-Bank Chairman Hiren Bhanu & Wife

Mumbai: The Esplanade Court has issued a proclaimed notice against Hiren Bhanu, former chairman of New India Co-operative Bank, and his wife Gauri Bhanu, the acting vice-chairperson, in connection with the Rs 122 crore embezzlement scam.

Scam Trail

The couple, residents of Bhulabhai Desai Road in South Mumbai, is accused of siphoning off Rs 122 crore from New India Co-operative Bank.

Legal Action

The Economic Offences Wing (EOW) had earlier issued a non-bailable warrant (NBW) against them for the second time after filing the chargesheet, as both had fled abroad before the scam came to light.

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Next Move

After the court issued the proclaimed notice, the EOW is now preparing to request the issuance of a Red Corner Notice (RCN) against the absconding couple, a senior officer confirmed. He further stated that translating the entire chargesheet into English is mandatory for the RCN process and will take approximately one month to complete.