Telangana Today reports the Banjara Hills police in Hyderabad have filed cases against the chairman, vice-chairman and managing director of the AP Mahesh Cooperative Urban Bank on charges of cheating and criminal breach of trust.
The cases are based on a complaint filed by Shyam Sunder Biyani, secretary of the AP Mahesh Cooperative Bank Shareholders Association.
Biyani’s allegations were that the board members manipulated the general body elections and embezzled funds of depositors and shareholders.