India, March 31 -- In an escalation of action against financial irregularities, the state government has ordered the attachment of assets worth over Rs.100 crore belonging to former directors and officials of the now-defunct Nagar Urban Multi-State Co-operative Bank. The move is being seen as a significant step in the investigation into the multi-crore scam that led to the bank's collapse and affected thousands of depositors in the city.

The order, issued on March 18 under the Maharashtra Protection of Interest of Depositors (MPID) Act, was received at the district collectorate on Monday. Officials said that 72 properties linked to 28 individuals - including former directors and senior officials of the bank - have been attached. Among th...