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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

A powerful explosion near Delhi’s Red Fort… High alert across Delhi after the blast; 8 people killed; forensic team arrives at the scene.

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New Delhi: A car explosion near Gate No. 1 of the Red Fort Metro Station on Monday evening caused widespread panic. The force of the blast was so intense that a part of the car landed on the Lal Mandir, located near the Red Fort. The temple’s glass shattered, and doors and windows of several nearby shops were damaged. Several people were reported injured in the incident.

Immediately after the blast, fires were reported in nearby shops. Tremors were felt as far as the Bhagirath Palace area of ​​Chandni Chowk, and shopkeepers were seen calling each other to inquire about the situation. Several buses and other vehicles were also reported to have caught fire.

The fire department received a call about the car explosion in the evening. Following this, it immediately dispatched six ambulances and seven fire tenders to the scene. Relief and rescue operations are underway, and efforts are underway to control the fire.

The cause of the explosion is still unknown. Police have cordoned off the area, and investigating agencies are gathering evidence at the scene. Initial reports suggest the explosion occurred in a car, but its nature and cause are still unclear. Security has been increased throughout the Red Fort and Chandni Chowk areas following the incident.

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Crime

Thane: Man Stabbed To Death In Dombivali Hotel After Minor Altercation

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Thane: A man was stabbed to death in Dombivali in Thane district during an altercation after he accidentally brushed against another person, a police official said on Monday.

The incident took place in a hotel in the early hours of Sunday in MIDC Phase 1 area, the Manpada police station official said.

“Akash Bhanu Singh (38) and his friends were having dinner at the hotel when he accidentally brushed against the accused, who picked up a fight. He along with some others stabbed Singh to death. Two of Singh’s friends, who tried to save him, also sustained injuries and have been hospitalised,” the official said.

Four persons were booked under Bharatiya Nyaya Sanhita sections for murder and other offences, though no arrest has been made, he said.

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Crime

‘Don’t You Know Marathi?’: Vadapav Vendor & Two Others Assaulted By Four Men Over Language Dispute In Kalyan

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Mumbai: In a troubling incident on Sunday night in Kalyan East near Chakkinaaka and Santoshnagar, a vadapav vendor and two of his companions were brutally assaulted by four men. The attack occurred after the assailants asked the vendor, “Do you know how to speak Marathi?” and began the assault when he did not respond affirmatively.

The vendor, identified as Vishnu Thapa, and his co-workers told police at the Colsewadi station that they work at a small eatery named Riddhi Bhojanalay. Around 8 pm two unknown men arrived at the shop, ate food and left. They returned shortly after and confronted Thapa with the question “Marathi ye­t nahi ka?” (“Don’t you know Marathi?”). Without waiting for a response they started beating him. He suffered serious injury to his nose in the first attack.

After the two men left, Thapa and his colleagues resumed work. Minutes later the men returned, this time bringing two others. The group of four again raised the language question and launched a fresh attack. Co-worker Madan Thapa was hit with a stone slab. Another colleague, Ali Khan, had his mobile phone smashed to the floor amid the chaos. The assailants also vandalised the shop, throwing food, utensils and trays outside.

The three victims were taken to hospital for treatment. A First Information Report has been registered at the Colsewadi police station and investigations are underway, with Police Constable Jadhav assigned to the case. Locals say the area has long been troubled by harassment of street vendors and extortion attempts; some offenders had been removed by police about 18 months ago.

The incident has raised serious concerns among workers and local vendors who feel vulnerable in the wake of such attacks. For many migrants eating and operating in the city, language and region should not become triggers for violence. City police have been urged to increase patrols in the zone and ensure protection for small street-vendors, especially during late evening hours.

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