New India Cooperative Bank fraud case: Son of absconding businessman nabbed by Mumbai police

The economic offences wing (EOW) of the Mumbai police nabbed the son of a businessman wanted in connection with the embezzlement case involving Rs 122 crore at the New India Cooperative Bank, an official told news agency PTI on February 28.

Manohar Arunachalam, aged 33, was taken into custody on Thursday; he is the son of the absconding accused, Unnathan Arunachalam. This marks the fourth arrest made in relation to this case, as highlighted by the official.

Previously, the EOW had detained three individuals, including the former general manager of the bank, Hitesh Mehta, as well as real estate developer Dharmesh Paun.


The news agency was told by the official that Manohar is alleged to have assisted his father, Unnathan Arunachalam, also known as Arun Bhai, in his escape.

Investigations have indicated that Manohar was present with his father at the time of his disappearance. He is expected to be brought before a court later in the day.

The EOW has been actively searching for Unnathan Arunachalam over the past several days, leading to the issuance of a lookout circular against him. Reports from the EOW suggest that the former bank manager, Hitesh Mehta, is accused of transferring Rs 50 crore to Unnathan Arunachalam, who operates in the solar panel industry.

Of this amount, it is alleged that Arunachalam deposited Rs 33 crore into two private trusts to secure financial gain.