Bollywood actor Preity Zinta’s name has popped up among those whose financial dealings have come under scrutiny in the Rs 122 crore embezzlement case related to the New India Co-operative Bank, as reported by PTI. According to the Economic Offences Wing (EOW) of the Mumbai Police, Zinta was granted a remission of Rs 1.55 crore when settling an approved loan of Rs 18 crore, classified as a non-performing asset (NPA) by the bank.
Zinta’s loan was approved on January 7, 2011, and was given against valuable collateral, which included a residential flat in Mumbai and property in Shimla. The total worth of these mortgaged assets was around Rs 27.41 crore. ”In November 2012, she had to repay Rs 11.40 crore to the bank,” the official stated to PTI. ”However, because of delays in payments, her account was declared as an on-performing asset on March 31, 2013. At the time, the outstanding amount was Rs 11.47 crore.”
In April 2014, the bank gave consent for a one-time settlement, waiving Rs 1.55 crore from the outstanding dues. Zinta paid the remaining balance and cleared the account. The remission offered has now become a part of the broader probe raised in terms of questionable financial practices at the bank.
EOW is investigating loan irregularities
The EOW is investigating several loan accounts approved from 2010 to 2014 as part of its deep probe into the alleged fraud. As per the latest report, eight people have been arrested, including Hitesh Mehta, the bank’s former general manager and head of accounts. He is considered the main accused in the case and was arrested on February 15 for siphoning off Rs 122 crore from the bank.
A polygraph test has already been conducted on Mehta by the investigators, and they are now planning to conduct a brain mapping test at the Forensic Science Laboratory in Kalina, Mumbai. The test objective is to disclose the money trail and identify others who are involved in the case. Meanwhile, the bank’s former chairman, Hiren Bhanu, and his wife, Gauri Bhanu have been named as wanted in the case.
The New India Co-Operative Bank is under investigation for an alleged embezzlement of Rs 122 crore, which has affected its ability to function. Depositors of the bank have been left uncertain about the safety and uncertainty of their funds. An organisation representing the interests of depositors of the scam-hit bank has approached the Reserve Bank of India (RBI) has pleaded for immediate intervention for restoring the bank’s operations.
(With inputs from PTI)