Mumbai’s Economic Offense Wing (Eow) has arrested Kapil Dadhiya, a wanted accused in a Rs 122 crore scam case from New India Cooperative Bank. Sources said that Dadhia was caught by a joint operation in Vadodara on Friday and was brought to Mumbai on Saturday (March 15, 2025). Kapil Dadhia was formally arrested at 11:30 am and was produced in the court, where the court sent him to the police custody by 19 March.
Cut 12 crore rupees in the account
Sources said that the investigation has revealed that 12 crore were deposited in his account, which is part of the embezzled money from the bank. It has also been learned that a part of these money was received from Dharmesh Paun, the builder of Dharmesh Realty, while the other part was transferred to him by Wanted accused Arunachalam in the case. Apart from this, EOW also suspects that he had allegedly received money from Hitesh Mehta.
The main accused escaped leaving the country
EOW is engaged in identifying where the funds disappeared from the bank and other people involved in financial irregularities. So far, EOW has arrested four accused in the case, including former CEO Abhimanyu Bhoan, SRA developer Dharmesh Paun and absconding Unnavan Arunachalam’s son Manohar Arunachalam. Both are beneficiaries in this matter. At the same time, former president Hiren Bhanu and his wife bank acting president and vice -president Gauri Bhanu have also been accused in the case but they left the country a few days before the FIR was registered.
Hiren Bhanu left Indian citizenship British citizen
According to the information received by EOW, Hiren Bhanu Abu Dhabi has gone and has surrendered his Indian citizenship and has acquired British citizenship. Gauri Bhanu had moved to Thailand two days before the FIR was registered. EOW has issued a look out circular (LoC) against the couple, after which a blue corner notice has also been issued. If they do not return to India, then after the EOW charge sheet is filed, the red corner notice will also be issued against them.
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