Cops to rope in CA firm to assist in bank fraud probe | mumbai | Hindustan Times
Today in New Delhi, India
Aug 19, 2017-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Cops to rope in CA firm to assist in bank fraud probe

The Economic Offences Wing (EOW) of the Mumbai police recently informed the Bombay High Court that it would rope in a chartered accountancy firm to assist in the investigation of a Rs 60 crore alleged bank fraud.

mumbai Updated: Jan 31, 2012 01:44 IST
Mohan K Korappath

The Economic Offences Wing (EOW) of the Mumbai police recently informed the Bombay High Court that it would rope in a chartered accountancy firm to assist in the investigation of a Rs 60 crore alleged bank fraud.

The court had last month pulled up the EOW for not taking appropriate action in the case, in which 17 former directors of the Veerashaiva Co-operative Bank are reportedly involved. Around 16,000 investors have been affected by the fraud. Public prosecutor PA Pol had earlier informed the court that out of the 17 former directors, six have been arrested, while three have expired.

The court was hearing a petition filed by the Co-operative Bank Employees Union, seeking recovery of money and action against the culprits through arrest and attachment of properties.

When the court asked who would bear the expense for the services of the chartered accountancy firm, Pol replied that the police commissioner’s office would. To this the court remarked, in jest: “We just asked because there is a case going on where it’s been stated that police take money for investigating complaints.”

The case has been adjourned till February 3.