Mumbai Banking Scandal: Lie Detector Test Looms for Ex-Executive

The Mumbai police are seeking court approval to conduct a lie detector test on Hitesh Mehta, a former executive at New India Cooperative Bank, amid a Rs 122-crore fraud investigation. He allegedly directed funds to real estate and solar ventures, but discrepancies in amounts have emerged, prompting further probe.

The Mumbai police are intensifying their investigation into a major fraud at the New India Cooperative Bank. Officials are seeking court permission to administer a lie detector test to Hitesh Mehta, the bank's former executive, arrested in connection with a Rs 122-crore embezzlement case.

According to the Economic Offences Wing (EOW) of Mumbai police, Mehta, implicated in directing substantial funds to real estate and solar ventures, has shown reluctance in cooperating with the probe. Disparities have surfaced in his claims about the funds transferred, which differ from the recipients' admissions.

Authorities are also exploring why the fraud eluded audits and have recorded statements from other senior bank officials. The Reserve Bank of India has intervened, replacing the bank's board and restricting withdrawals to safeguard depositor interests amidst the unfolding scandal.

(With inputs from agencies.)