The advisor of the Vitrag Co-operative Bank Ltd has lodged a complaint against Naresh Shroff, the chief executive officer of the Bank, and 55 other persons, accusing them of defrauding the bank to the tune of Rs 11.28 crore. | |
| The accused include Atul Khatri, Amit Khatri, Rajesh Shah and Rajnikant Shah, police said. |
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| According to the complaint, the accused, with the help of the bank CEO, took Rs 11.27 crore from Vitrag Bank as cheque discounts and temporary overdrafts. |
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| However, they could not repay the amount in time leading collapse of Vitrag Bank. Finally last it was barred from the clearing house.. Police said that a case has been registered against all the 56 accused, under sections 406, 409, 420 and 465 of IPC. |
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| "We have arrested Amit Khatri on Saturday. We are interrogating him to find out the whereabouts of the other accused," J A Patel, investigating officer told Business Standard. |
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| "We also had raided the residence of Naresh Shroff on Saturday. Though we could not nab him, we have seized his passport, Rs 7 lakh worth of FD receipts and share certificates from his house," Patel added. |
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