The case of M M Cooperative Bank Ltd v J P Bhimani Anr arose from a criminal complaint filed by the bank against the respondents alleging their involvement in siphoning ... approximately crores from the institution The M M Cooperative Bank incorporated under the Maharashtra Co-operative Societies Act and under a reconstruction scheme as per the Multi State Cooperative Societies Act sought legal action against J P Bhimani and another for conspiracy and misappropriation of funds The court examined the merits of the allegations and the financial implications ultimately addressing issues related to the management of the bank and the accountability of the accused

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