Key accused in New India bank fraud surrenders

Ullhanathan Arunachalam, 62, surrendered to Mumbai police on Sunday after being wanted in the New India Co-operative Bank fraud case. He is the sixth person arrested in connection with the alleged ₹ 122 crore fraud. Arunachalam had been absconding since the fraud was revealed last month. He allegedly received ₹ 40 crore from the bank's stolen funds and was close to the main accused, Hitesh Mehta. The police had issued a lookout circular for Arunachalam and tracked him across several states. Another suspect, Kapil Kalyanji Dedhia, was arrested in Gujarat on Saturday, while two others remain at large, reportedly abroad.