New India Coop Bank - Business Outrank

The Economic Offences Wing of Mumbai police has further broadened its investigation into the 122 crore rupee embezzlement case of New India Cooperative Bank. The principal accused, Hitesh Mehta, the former general manager and head of accounts of the bank, is expected to take a brain mapping test in the next few days, a senior police officer said. Last week, Mehta was subjected to a polygraph test at the Forensic Science Laboratory in Kalina, Mumbai. But the officials said that the results were not satisfactory and did not give much information about the misuse of funds and the other accused persons. Due to the fact that there are many gaps in the investigation the EOW has now decided to use brain mapping in order to gather more information. "We have planned to do the brain mapping test on Mehta but the date is not yet set," the official said. The test will be done at the FSL only after the necessary clearances have been obtained. He has already gotten the nod from a court to subject Mehta to forensic psychological tests in the course of the investigation. The EOW has so far arrested seven people in connection with the financial fraud case. The former bank chairman Hiten Bhanu and his wife Gauri are still on the run. The court has issued a NBW against the couple and the police are looking for them. It has been established that Rs. 122 crore was withdrawn from the bank's Prabhadevi and Goregaon branches. He was arrested on February 15 and other arrests were made after that. The investigation into the case is still going on and the investigators are trying to establish the actual amount of loss and the number of people who colluded to defraud the bank.

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