Mumbai police’s Economic Offences Wing (EOW) has arrested the son of a businessman wanted in connection with the embezzlement of Rs 122 crore at the New India Cooperative Bank. Manohar Arunachalam (33) was arrested from the northern suburb of Dahisar and a court remanded him in police custody till March 4. The EOW has so far arrested main accused Hitesh Mehta, the bank’s former CEO Abhimanyu Bhoan and real estate developer Dharmesh Paun. He is accused of taking Rs 40 crore from theEmbezzled amount. He was seen with his father on February 17 near his residence, an official said. He used to sit at the consultancy firm office, where New India Co-Operative Bank’s arrested general manager and head of accounts HitesH MehtA visited twice, police said. They said he was also present during this cash handover. He has been remanded in custody and a lookout circular has also been issued for him.
