Hiren Bhanu and Gauri Bhanu, who are considered the masterminds behind the scam |
Mumbai: In a shocking development in the New India Bank scam, the Economic Offences Wing (EOW) has received a new complaint against fugitive accused Hiren Bhanu, revealing fresh allegations of a ₹400 crore loan scam. According to EOW sources, social activist and businessman Sachidanand Shetty filed a complaint 15 days ago, accusing Bhanu of sanctioning loans worth ₹400 crore from the bank’s treasury to his close associates between 2010 and 2022-2023. The complaint claims that most of these loans turned into non-performing assets (NPAs), leading to massive financial losses.
The complaint further alleges that after appointing himself as the Vice Chairman, Hiren Bhanu strategically influenced the board of directors by including individuals loyal to him. Bhanu allegedly appointed eight board members from his close circle, ensuring he had complete control over the bank’s daily operations. He reportedly retained only four members from the trade union, thereby reducing external oversight. Bhanu also installed a Managing Director of his choice, consolidating his power over the bank’s decision-making.
EOW Launches Separate PE (Preliminary Enquiry):
Following Shetty’s complaint, the EOW has initiated a separate and private investigation into the fresh allegations. Officials are now examining the loan disbursement records, the identities of loan beneficiaries, and the NPAs resulting from these transactions.
Blue Corner Notice Sent to CBI:
In its pursuit of Hiren Bhanu and his wife Gauri Bhanu, who are both absconding, the EOW has forwarded the Blue Corner Notice issued against them to the Central Bureau of Investigation (CBI). Since CBI is the nodal agency for handling such notices, it will relay the Blue Corner Notice to Interpol.
Once Interpol receives the notice, the EOW will seek assistance in locating and arresting the Bhanu couple, who are believed to have fled abroad. The EOW is intensifying its investigation into the ₹122 crore scam, including money laundering, loan diversion, and identifying the assets acquired using embezzled funds. Authorities are also exploring legal channels to freeze the couple’s foreign assets. The investigation is ongoing.
