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Rs 122 crore New India Co-operative Bank case: ED seizes Rs 16.95 crore assets linked to former NICBL chairman

The fraud involved manipulation of bank records, siphoning funds, and routing money to foreign entities. Both accused remain abroad, and investigations are ongoing

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Accused remain abroad as ED continues investigation and fund tracing. Representational Image

Accused remain abroad as ED continues investigation and fund tracing. Representational Image

The Enforcement Directorate (ED) has provisionally attached 33 properties worth nearly Rs 16.95 crore belonging to Hiren Ranjit Bhanu, his wife Gauri Hiren Bhanu, and other family members under the Prevention of Money Laundering Act (PMLA), 2002, reported the IANS.

The attached assets include residential flats, commercial offices, agricultural land, bank balances, and fixed deposits. Officials said this move is part of an ongoing investigation into a massive Rs 122 crore embezzlement at the New India Co-operative Bank Limited (NICBL).

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