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New India Cooperative Bank Scam: Dharmesh Paun Claims He Received ₹2 Crore From Hitesh Mehta, Returned ₹1.50 Crore

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Mumbai: In a fresh twist to the New India Cooperative Bank ₹122 crore scam, accused Dharmesh Paun has claimed that he received ₹2 crore from main accused Hitesh Mehta, but later returned ₹1.50 crore. The Economic Offences Wing (EOW) suspects that Paun misappropriated ₹70 crore for an SRA project in Kandivali’s Charkop area.

Investigators have raised concerns as Paun’s ₹300 crore SRA project is on collector’s land, and he has not secured a bank loan due to land ownership restrictions. Typically, builders take loans for such projects, but EOW has found no loan-related documents in Paun’s possession.

In December 2016, Paun registered his company Dharmesh LLP and began the Charkop SRA project in 2018. In 2016, Paun sold a flat to Mehta, who later resold it to a third party. This marked the beginning of their association. Hitesh Mehta joined New India Cooperative Bank in 1988 as an accountant and has two children, one of whom is preparing for CA exams.

A senior EOW official has revealed that they plan to summon the bank’s internal and concurrent auditors. Eow has seized CCTV footage of last three weeks. The key question: How did Mehta siphon off ₹122 crore in small amounts over five years without auditors noticing?

Further suspicions arose when, on February 12, RBI officials conducted an inspection and discovered that ₹122 crore was missing from the bank’s locker.

However, instead of filing a complaint, the Acting Chief Executive Officer, Devarsi Ghosh, lodged the FIR at Dadar Police Station. If RBI officials found discrepancies in the locker funds, why didn’t they file the complaint themselves? The investigation continues.

The Economic Offences Wing (EOW) of the Mumbai Police is investigating the scam, which involves siphoning off ₹122 crore from the bank’s funds. Hitesh Mehta, the former General Manager and Head of Accounts, was arrested earlier for his alleged role in diverting the money to multiple beneficiaries.

In the ongoing probe into the ₹122 crore fraud at New India Cooperative Bank, key accused Hitesh Mehta has admitted to diverting ₹70 crore to Dharmesh Paun and ₹40 crore to Arunbhai. During interrogation, Mehta revealed that he had funded Paun’s SRA project in Charkop with ₹70 crore.

However, no official documentation exists to support this transaction. So EOW officer will retrieve the WhatsApp message history of both accused.

Meanwhile, Dharmesh Paun has denied receiving such a large sum and has instead claimed that he only took ₹2 crore from Mehta, out of which he returned ₹1.50 crore. The Economic Offences Wing (EOW) is investigating this conflicting narrative and verifying the financial trail.

Crime

Delhi Police solve Usmanpur robbery case, arrest two accused; stolen mobile phone recovered

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New Delhi, Oct 12: Delhi Police solved a robbery case in New Usmanpur area by arresting two accused, including a proclaimed bad character (BC) of Bhajanpura police station. The mobile phone robbed from the victim has also been recovered, officials said.

According to police, the incident took place on October 8, when Man Singh, 28, a resident of South Gamri in Delhi who works as a taxi driver, was walking from 4.5 Pusta towards the parking area at 5th Pusta to collect his vehicle at around 5 a.m.

When he reached a garbage dump, three persons allegedly intercepted him. One of them grabbed him from behind and choked him, while another pressed a knife-like object against his stomach.

Meanwhile, the third accused took his mobile phone and wallet containing Rs 1,500 and his driving licence from his trouser pocket. They also snatched an earring from his ear before fleeing towards Khajuri Chowk.

Following the complaint, a case was registered under FIR No. 639/2026 dated October 8 under Sections 309(4) and 3(5) of the Bharatiya Nyaya Sanhita (BNS), and an investigation was initiated.

A police team under the supervision of Seelampur ACP cracked the case, arresting the key suspect.

The team analysed footage from more than 150 CCTV cameras and developed local intelligence, leading to the identification and arrest of the two accused on October 9.

The accused have been identified as Arif alias Khujli, 25, a resident of Gali No. 4, 5th Pusta, Gamri, Delhi, and Dilshad Sheikh, 24, a resident of Gali No. 24, 5th Pusta, Gamri, Bhajanpura, Delhi.

During verification, Arif was found to be a “bad character” of Bhajanpura police station, with six previous cases related to robbery, theft and offences under the Arms Act. Dilshad was previously involved in two robbery cases, police said.

During interrogation, both accused confessed to their involvement in the crime and disclosed information about a third associate. On October 10, during police custody remand, the victim’s robbed mobile phone was recovered at Arif’s instance.

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Crime

Ambulance-borne thieves wearing nighties target ATM in Telangana

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Hyderabad, Oct 12: Unidentified thieves wearing nighties and masks, who arrived in an ambulance, looted an ATM in Telangana Kamareddy district on Sunday, officials said on Monday.

According to police, the burglars broke into a State Bank of India (SBI) ATM and, after damaging the machine with gas cutters, escaped with the cash. The crime, committed between 1 a.m. and 1.30 a.m. in Gandhari village, was captured on the CCTV camera.

The footage shows the offenders arriving in an ambulance, wearing masks, caps and gloves, cutting open the ATM with gas cutters and fleeing with cash. The suspects appear to be men. However, police have not ruled out the involvement of women as a woman was involved in the recent theft at an ATM in Karimnagar district.

The theft came to light on Monday morning after locals noticed the damaged machine and alerted the police. The police reached the scene, registered a case, and collected evidence with the assistance of a clues team.

Investigators are examining CCTV footage to identify the suspects and reconstruct their movements before and after the robbery. The amount of cash stolen remains unconfirmed, with verification of the ATM’s cash balance required to establish the loss.

Police are also investigating whether the ambulance used in the crime was genuine or it was just to disguise their movements.

Last month, burglars damaged two ATMs and looted cash in Telangana’s Karimnagar town. The offenders targeted two ATMs of the SBI in two different areas, using gas cutters to break open the machines and fled with the cash.

The thefts, committed in Durshed under Karimnagar Rural Police Station limits and Thimmapur under LMD Police Station limits on September 19, were captured on CCTV.

At Durshed, the thieves allegedly sprayed a liquid on the CCTV cameras before stealing the cash from the ATM.

Police identified the involvement of a woman based on the CCTV footage.

Two burglars, including a woman, reached the Durshed ATM in a car. The accused were wearing caps, spectacles, gloves and masks.

After damaging the ATM, they took away Rs 8 lakh stored in the machine.

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Crime

Assam Rifles seize methamphetamine tablets worth over Rs 2 crore in Tripura, one arrested

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Agartala, Oct 12: The Assam Rifles have seized highly addictive methamphetamine tablets worth over Rs 2 crore and arrested a suspected drug peddler in Tripura, officials said on Monday.

A defence spokesman said that the Assam Rifles, in a joint operation with Assam Rifles Field Intelligence Unit (ARFIU) and Customs Department, Agartala, apprehended a suspected drug peddler and recovered 1.994 kg of methamphetamine tablets, also known as Yaba tablets, worth approximately Rs 2 crore at Mohanpur in West Tripura District.

A bike was also seized from the individual, a resident of Mohanpur.

The apprehended suspected drug peddler, recovered contraband, and the two-wheeler were subsequently handed over to the Customs Department, Agartala, for further investigation.

Assam Rifles remains committed to combating drug trafficking and the narcotics menace in Tripura through coordinated operations with other law enforcement agencies, contributing towards a drug-free society, an Assam Rifles statement said.

The methamphetamine tablets, also known as party tablets, containing a mixture of methamphetamine and caffeine, also called the ‘crazy drug’, are banned in India.

Meanwhile, the Assam Rifles, in coordination with Customs, in two separate operations last week, have seized 841 kg of ganja (marijuana) worth around Rs 4.24 crore in Tripura’s Khowai district.

A defence spokesman said that as part of a crackdown on narcotics trafficking, the Assam Rifles, in coordination with Customs officials, conducted both operations.

Police officials said that the state police, Assam Rifles, Tripura State Rifles (TSR) and other security forces, in joint operations, often destroy illicit ganja cultivation in different parts of the state, especially in Sepahijala district, which shares a border with Bangladesh.

According to a police official, dry ganja produced in Tripura is not consumed locally and is smuggled to various states, including Bihar and Uttar Pradesh, where it fetches higher prices. During transportation, consignments of dry ganja are often seized from trucks, small vehicles and even passenger trains.

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