Mumbai: The Economic Offences Wing (EOW) has made another arrest in the New India Co-operative Bank scam. Former CEO Abhimanyu Bhoan has been taken into custody, making him the third accused in the case. The Court has remanded accused into police Custody untill February 28.

Bhoan’s arrest follows an ongoing investigation into financial irregularities within the bank, which allegedly led to taken place during his working period. The authorities suspect his involvement in mismanagement and fraudulent transactions.

Further investigation is underway, and officials believe that more arrests may follow in the case.