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Mumbai: Sessions Court Denies Bail To Ex-New India Bank CEO Abhimanyu Bhoan In ₹122 Crore Fraud Case

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Mumbai: The sessions court has refused to grant bail to Abhimanyu Bhoan, former CEO of scam-riddled New India Co-operative Bank, observing that huge amounts of funds to the tune of Rs122 crore were siphoned systematically and nothing could be seized and recovered till date.

Bhoan was arrested by the Mumbai police in the last week of February for his role in the bank’s collapse. While seeking bail, Bhoan pleaded that he was falsely implicated in the case, merely based on the statement of co-accused (general manager) Hitesh Mehta. The sessions judge, RK Deshpande, noted, “As per the prosecution, two of the nine co-accused are absconding till date.

In such a scenario, if the applicant is released on bail… the possibility of tampering with the investigation and threatening the witnesses (who prima facie appear to be related with the bank) cannot be ruled out.” The court noted that Bhoan, at the time the alleged fraud surfaced, was working as the CEO of the bank’s Prabhadevi branch, and the prime accused Hitesh Mehta was working under his supervision. “Prima facie, as the bank’s CEO, he (Bhoan) handled each and every cash transaction and was well aware about the cash in hand in the bank,” the court further noted.

Referring to Bhoan’s brain mapping reports, the court said it is revealed that he received funds to the tune of Rs1 crore from Mehta. The court further said, “From the contents of the chargesheet, prima facie it’s a systematic, well planned conspiracy played by the applicant along with other co-accused in order to grab Rs122 crore, which is totally public money…” The court said that such types of acts are not expected from a bank official in a responsible position.

The court said that “an economic offence was committed with cool calculation and deliberate design, and an eye on personal profit regardless of its impact on the community”. It said, “A disregard for the interest of the community can be manifested only at the cost of forfeiting its trust and faith… (we need) to administer justice in an even handed manner, without fear of criticism from quarters that view white collar crimes with a permissive eye, unmindful of the damage done to the national economy and national interest.”

National News

Two die of lightning as heavy rain lashes parts of Andhra Pradesh

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Amaravati, Sep 13: Two people died of lightning in Andhra Pradesh’s Palnadu district as heavy rains lashed parts of the state since Saturday night under the impact of a low-pressure area, officials said.

Heavy rains accompanied by thunderstorms lashed Narsraopet in Palnadu district. One person each in Petlurivaripalem and Lakshmipuram villages died after hearing the frightening noise of the thunderstorm.

The deceased were identified as Nagamma (63) and Mekala Venkayamma (60). Both suspected to have died of cardiac arrest.

Heavy rains were lashing Visakhapatnam and Gajuwaka areas. Parts of East Godavari district also received heavy rains. Bus stand at Nidadavole was inundated, causing inconvenience to commuters.

According to the Andhra Pradesh State Disaster Management Authority, a low-pressure area is centred over the Vidarbha and Madhya Pradesh regions. The APSDMA said in a bulletin on Sunday morning that it is likely to move in a west-northwest direction over the next 24 hours and is expected to cause moderate to heavy rains in isolated parts of the state.

Gusty winds with a speed of 40-60 kmph are likely along the North Andhra coast. Fishermen have been advised not to venture into the sea.

Rain accompanied by lightning is likely in some areas of Eluru, NTR, Krishna, Nandyal, and Kurnool districts.

APSDMA Managing Director Prakhar Jain has advised people not to stand under trees or hoardings during lightning and gusty winds. He also urged them not to attempt to cross overflowing streams or canals,

State Home Minister Vangalapudi Anitha has advised people and officials to remain on alert in view of the rain forecast.

She said people should avoid crossing overflowing streams or canals. She also asked officials to prohibit movement of vehicles in the vulnerable areas.

The Home Minister directed police and revenue department officials to remain accessible in affected areas.

The rains, under the impact of a low-pressure area, however, provided some relief to people from the heat.

The state has recorded nearly 60 per cent less rainfall deficit this year. Heat has gripped much of the state, with day temperatures crossing 40 degrees Celsius at many places.

According to Andhra Pradesh Water Resources Information and Management System (APWRIMS), from January 1 to September 9, the state received 236.51 mm of rain against a normal of 578.58 mm, a shortfall of 59.12 per cent.

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International News

Chinese President Xi Jinping departs from Delhi after attending BRICS Summit

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New Delhi, Sep 13: Chinese President Xi Jinping on Sunday departed from New Delhi after attending the 18th BRICS Summit hosted by India.

Xi Jinping participated in the two-day BRICS Summit at Bharat Mandapam in New Delhi. He joined leaders of BRICS member countries in a joint tree plantation drive in New Delhi. Xi and leaders of other BRICS member countries visited Bharat Innovates Exposition at Bharat Mandapam.

During his visit to India, Xi also held a bilateral meeting with Prime Minister Narendra Modi, where the two leaders emphasised that “differences should not become disputes” and reaffirmed that both countries should take a strategic and long-term perspective of their ties.

“The two leaders welcomed the steady progress in India-China bilateral relations since their last meeting in Tianjin in August 2025. They reaffirmed that both countries should take a strategic and long term perspective of their ties. Differences should not become disputes. Prime Minister highlighted that both sides must be guided by three mutuals- mutual respect, mutual sensitivity and mutual interest,” read a statement issued by the Ministry of External Affairs (MEA) after the meeting.

During the meeting, PM Modi stressed that peace and tranquillity in the border areas remain an essential basis for the continued development of bilateral relations.

“He underlined the need for both sides to observe existing agreements and understandings on border-related issues. The two leaders expressed commitment to a fair, reasonable, and mutually acceptable resolution of the boundary question proceeding from the political perspective of their overall bilateral relations and the long-term interests of the two peoples,” the MEA statement added.

Both leaders also took note of the progress in people-to-people ties and underscored the need to further promote cultural exchanges, business linkages and greater mobility between the two countries.

“On economic and trade relations, they underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access,” the statement read further.

According to the MEA, the two leaders agreed that both sides must continue to expand common ground on regional and global issues, and in addressing challenges.

“Prime Minister appreciated China’s support for India’s BRICS chairship and its contributions towards the success of the BRICS Summit-2026,” it concluded.

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Crime

Two snatchers, receiver arrested in Delhi; gold earring snatching case solved within 24 hours

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New Delhi, Sep 13: A team of Mansarovar Park police in the national capital has arrested two alleged snatchers and a receiver of stolen property in a gold earring snatching case, with the cops claiming to have solved the case within 24 hours of the incident.

A motorcycle allegedly used in the commission of the crime has also been recovered.

According to the Shahdara district police, a PCR call regarding the snatching was received at Mansarovar Park police station on September 9. The complainant, identified as Guddi Devi, told police that she was travelling on a motorcycle with her nephew when two men riding a bike approached them from behind as they were crossing Durgapuri Flyover.

The pillion rider allegedly snatched a gold earring from her left ear, following which both men fled towards Durgapuri.

During the probe, police examined the complainant, inspected the spot and prepared a site plan. Investigators also analysed CCTV footage from the area and obtained clear images of the alleged accused along with the registration number of the motorcycle used in the crime.

The motorcycle was traced to its registered owner, Meenakshi, who told police that it was being used by her brother Puneet. Police subsequently apprehended Puneet from his residence and recovered the motorcycle at his instance.

During interrogation, Puneet allegedly disclosed his involvement with his associate Vikas alias Puchchi. Vikas was subsequently apprehended from the Nand Nagri bus stand. Both were arrested, and the court granted one-day police custody remand.

Police said further interrogation led to the identification of Arjun as the alleged receiver. According to police, Puneet and Vikas disclosed that they had sold the stolen gold earring to Arjun near Tahirpur Gurudwara for around Rs 8,000.

Arjun was traced and questioned. Police said he admitted purchasing the earring for Rs 8,000 and later selling it for approximately Rs 10,500 to an unidentified person in B-Block, Nand Nagri. As the stolen property was no longer in his possession, Arjun was arrested following due legal procedure.

Police said efforts are underway to identify the subsequent purchaser and recover the stolen gold earring.

The arrested persons have been identified as Puneet, 23, a resident of Nand Nagri; Vikas alias Puchchi, 38, also of Nand Nagri; and Arjun, 36, a resident of Nand Nagri.

According to police, the accused have also been linked to three other cases registered at Police Station Mansarovar Park under relevant provisions of the BNS.

Police said Puneet has one previous criminal involvement, while Vikas alias Puchchi has more than 17 previous criminal involvements in cases related to robbery, snatching, theft and the Arms Act. He is also an active Bad Character (BC) of Police Station Nand Nagri.

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