The Economic Offences Wing's (EOW) investigation has uncovered several irregularities in the bank’s financial records, particularly in cash transactions. Sources revealed that while the Prabhadevi head office vault had a capacity of only ₹10 crore, the bank’s trial balance on February 11, 2025, recorded cash holdings of ₹133.41 crore. However, actual cash available was only ₹11.13 crore, out of which ₹10.53 crore was stored in the Goregaon cash cell vault, and ₹60 lakh was kept in the head office strong room.
These discrepancies prompted the EOW to summon the six audit firms responsible for conducting internal and concurrent audits of the bank between 2019 and 2024. An EOW official confirmed that auditors from these firms will be questioned regarding their role in verifying the bank’s financial statements.
Meanwhile the EOW of the Mumbai Police, investigating the ₹122 crore scam in New India Bank, has issued summons to six audit firms. The firms summoned include Sanjay Rane & Associates, along with partner Abhijit Deshmukh, M/s UG Devi & Company, M/s Gandhi & Associates LLP, M/s Shinde Nayak Associates, M/s Jain Tripathi & Company, and M/s SI Mogul & Company. All of them have been asked to appear for questioning before the EOW.
According to sources, Abhijit Deshmukh has already been interrogated four times and has been called in for questioning again.
The EOW has already arrested Hitesh Mehta (General Manager of the Bank and the prime accused), Dharmesh Paun (Builder), and Abhimanyu Bhoan (Former CEO of the Bank). Former CEO Bhoan, who had signed off on all balance sheets and audit reports, is being interrogated continuously.
The investigation also revealed that during the Reserve Bank of India (RBI) inspection on February 12, only ₹60 lakh was found at the Prabhadevi branch and ₹10.53 crore at the Goregaon branch.
Preity Zinta’s Name Not Linked to Probe
A senior EOW officer has clarified that actress Preity Zinta is not under investigation in this case. The officer stated that no complaint related to her has been received from the bank and that the probe is solely focused on the ₹122 crore fraud.