Mumbai’s Economic Offences Wing (EOW) has registered a fresh FIR at Dadar police station accusing Percept Ltd founder-director Harinder Pal Singh, former New India Co-operative Bank chairman Hiren Bhanu, his wife Gauri Bhanu, ex-CEO Abhimayu Bhoan, and five others of cheating and criminal breach of trust in a ₹25 crore loan fraud spanning from September 2014 to October 2023. Authorities allege that the accused sanctioned ₹77 crore to Percept, received ₹6.4 crore in kickbacks via fake invoices, and later waived off ₹18.6 crore when the loan couldn’t be repaid. This FIR comes as the second case involving the Bhanu family and Bhoan—an earlier FIR in February revealed ₹122 crore missing from the bank. A massive 12,634-page chargesheet was also filed last month in the ₹122 crore misappropriation case, declaring the Bhanus absconders.

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