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Mumbai Police targets hidden assets of fugitive duo in Rs 122 crore New India Cooperative Bank scam

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New Delhi, March 13: The Economic Offences Wing (EOW) of the Mumbai Police is investigating a major financial fraud involving the New India Cooperative Bank, which has reportedly seen a Rs 122 crore embezzlement.

The investigation has revealed that former bank president Hiren Bhanu, who is wanted in the case, along with his wife Gauri Bhanu, the bank’s current acting president, and vice president, have purchased multiple properties between 2019 and 2024.

A police official stated that during this period, Rs 122 crore was embezzled from the bank, raising suspicions that the properties acquired by the Bhanu couple may be proceeds of crime.

The EOW is now focussing on investigating these properties as part of their probe into the financial scam. The police are exploring the use of new provisions under the BNSS (Bureau of Non-Specific Financial Crime) Act to seize the assets of the fugitives, as the Maharashtra Control of Organised Crime Act (MCOCA) cannot be applied in this case.

The official further elaborated, “We are examining how these properties can be seized, considering that MCOCA does not apply. We are also exploring if the MCOCA provisions can be added to the FIR.”

According to the investigation, just before the scam came to light, the couple fled the country, and in the period between 2019 and 2024, Hiren Bhanu reportedly acquired assets worth Rs 10-12 crore in Mumbai and its outskirts.

The EOW has been closely monitoring these properties, which are now under scrutiny to assess whether they were purchased with the stolen funds. The police are considering invoking BNSS Section 107 (related to property attachment, confiscation, or restoration) to seize the assets, as this provision gives law enforcement the authority to confiscate properties when specific Acts like MCOCA cannot be applied.

This investigation is ongoing, and the EOW is working to ensure that the proceeds of the crime are properly recovered, while also ensuring accountability for the Bhanu couple’s actions in the ongoing Rs 122 crore bank scam.

Crime

Palghar Crime: 40-Year-Old Constable Arrested For Allegedly Raping Woman Inside Kasa Police Station

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Palghar, Maharashtra, Dec 08: A 40-year-old police constable has been arrested for allegedly raping a woman inside the Kasa police station in Maharashtra’s Palghar district, officials said on Monday.

According to a senior official from the Palghar rural police, the incident took place last week when the woman had visited the station to record her statement in connection with an ongoing case. The constable allegedly assaulted her within the premises.

Following a complaint filed by the woman, a case of rape was registered and the constable was arrested on Sunday, officials confirmed.

In the aftermath of the incident, the in-charge of the Kasa police station has been transferred. Further investigation is underway.

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Crime

Mumbai ANC Detains Repeat Drug Offender For One Year Under Rare PIT-NDPS Action

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Mumbai: In a major preventive action against repeat drug offenders, the Anti-Narcotics Cell (ANC) of the Mumbai Crime Branch has arrested a 29-year-old drug trafficker under the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances (PIT-NDPS) Act, lodging him in Kolhapur Central Jail for one year.

The accused has been identified as Surajkumar Ramvilas Prajapati (29), a resident of Albert Compound, Vasari Hill, Shankar Nagar, near Rustamjee Tower, Goregaon (West).

While preventive detention of habitual offenders during election seasons is common to avoid threats to law and order, such detentions typically last only a few days and the individuals are released after polling.

However, in a rare and unprecedented move, the Mumbai Police have detained Prajapati for an entire year and shifted him to Kalamba Central Jail, Kolhapur.

The action was taken under the stringent PIT-NDPS Act, 1988, a provision invoked only in exceptional cases to isolate habitual offenders from society.

A senior Mumbai Police officer said a similar action under the PIT-NDPS Act was previously taken against Iqbal Memon alias Iqbal Mirchi, Dawood Ibrahim’s key drug handler. After Mirchi, this is considered the second major preventive detention under the Act in recent years.

According to police, Prajapati has seven ganja trafficking cases registered against him:

Four cases at Malad Police Station

One case at Goregaon Police Station

Two cases with the Kandivali Unit of the ANC

He was recently granted bail in the Kandivali Unit case, but investigations revealed he continued operating in narcotics trafficking despite multiple bail orders.

Given the ongoing threat posed by the accused and his repeated return to drug peddling, the ANC submitted a proposal to detain him under the PIT-NDPS Act to the Competent Authority Principal Secretary (Special), Home Department, Government of Maharashtra.
The proposal was approved, and an official detention order was issued.

Following the approval, Prajapati was taken into custody and on December 6, 2025, lodged in Kalamba Central Prison, Kolhapur, for preventive detention of one year.

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Crime

Mumbai: After Rapido, FIR Filed Against Directors Of Ola For Illegal Bike-Taxi Operations

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Mumbai: After FIRs registered against the directors of The Roppen Transportation Services Pvt Ltd (Rapido) in Mumbai and Navi Mumbai, the Amboli police have now filed a case against directors of Ola company for allegedly operating bike-taxi services illegally within Mumbai city without a licence or permission from the Maharashtra State Government or the Regional Transport Authority (RTA).

The case was registered on December 5 based on a complaint received from the Regional Transport Office (RTO). Media contacted both companies; however, the management of Ola and Rapido has not yet responded. The RTO took action against the two-wheelers of both companies between November 11 and December 3 in Andheri West.

Babu Teli, 36, a Motor Vehicle Inspector with the RTO, filed a complaint and the case was filed under Sections 318(3) (cheating) and 223 (disobedience to an order duly promulgated by a public servant) of the Bharatiya Nyaya Sanhita (BNS), along with Sections 66, 93, 192(A), 193 and 197 of the Motor Vehicles Act, 1988.

According to the FIR, both Rapido and Ola have not received any permission from the government and were operating their vehicles via mobile applications, facilitating passenger transport without the requisite approvals and allegedly earning financial gains. The FIR further stated that both companies were risking passengers’ lives by conducting illegal transportation on two-wheelers. It also noted that the companies did not verify the drivers’ character certificates and failed to follow safety rules.

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