
New India Co-operative Bank case: Police gets a nod to attach 21 properties worth ₹168 crore
The Hindu
Mumbai EOW attaches properties worth ₹167.85 crore in New India Cooperative Bank case, first under BNSS section 107.
The Economic Offences Wing (EOW) of the Mumbai police on Thursday (April 3, 2025) said that the Chief Judicial Magistrate Court in Mumbai has given nod to the police to attach 21 properties worth ₹167.85 crore that belongs to five accused in the ₹122 crore New India Cooperative Bank embezzlement case.
“Invoking the provisions of section 107 of the BNSS, EOW Mumbai had moved an application for attachment of properties derived from the proceeds of crime in the New India Cooperative Bank case. The court, after considering the State’s submissions, was pleased to allow the attachment of 21 immovable properties worth approximately 167.85 crore belonging to 5 key accused,” the EOW officials said.
Section 107 of the Bhartiya Nagrik Suraksha Sanhita (BNSS) 2023, addresses the procedures for the attachment, forfeiture, or restoration of property that may be derived from criminal activities.
The EOW started the process of attachment after receiving the Judicial Magistrate Court’s nod on Wednesday. The officials also said that this would be the first such action under section 107 of the BNSS in Mumbai.
The properties include a Slum Rehabilitation Project worth ₹ 150 crore at Charkop developed by builder Dharmesh Paun, one of the arrested accused. Other properties include a shop worth ₹ 1.5 crore owned by Arunachalam Ullahanathan Maruthuvar, a ₹ 75 lakh worth flat owned by a person named Kapil Dedia and a shop and flat each worth ₹ 50 lakh in Bihar’s Patna and Madhubani region of a person named Javed Azam. including a shop and a flat in Madhubani and a flat in Patna, the EOW official said.
So far, eight people have been arrested in the case.

There are two instances where the government has shifted out such establishments out of the core city areas. The APMC yard, which was operating out of N.T. Pet, was shifted to Yeshwanthpur in the late 1980s, and HAL airport was shut down for passenger traffic and a new airport was built near Devanahalli.