Key Suspect Surrenders in ₹122 Crore New India Co-operative Bank Fraud Case

Arunachalam Ullahanathan, accused of laundering ₹40 crore, turned himself in after a month-long evasion across multiple states.

Arunachalam Ullahanathan, also known as 'Arun Bhai,' surrendered to Mumbai Police's Economic Offences Wing (EOW) after evading authorities for a month.
He is accused of receiving ₹40 crore from Hitesh Mehta, the former general manager of the bank and the primary suspect in the ₹122 crore embezzlement case.
Arunachalam's son, Manohar, was previously arrested for laundering ₹12 crore through his firm's bank account, which was linked to the scam.
Another suspect, Kapil Dedhia, was arrested in Vadodara for allegedly receiving ₹12 crore in misappropriated funds and remanded in police custody until March 19.
The EOW continues to investigate the financial trail and search for additional suspects, including the bank’s former chairman and vice-chairperson, who are believed to have fled abroad.