In a significant embezzlement case, Rs13.5 crore was fraudulently transferred from the joint account of the Competent Authority for Land Acquisition (CALA) and the National Highways Authority of India (NHAI) at the Rudrapur branch of IndusInd Bank. The funds were dispersed to 19 accounts across four states—Chandigarh, Maharashtra, Rajasthan, and Haryana—using three counterfeit cheques. Authorities have successfully frozen Rs7.5 crore from these accounts but are still tracing the remaining Rs6 crore.
The fraudulent transfers occurred on August 28, 31, and September 2. Funds were moved from the CALA and NHAI joint account at the bank’s Awas Vikas branch to accounts belonging to three firms: Nanaksar Infra at ICICI Bank in Chandigarh (Rs5.52 crore), Sawaria Traders at Axis Bank in Mumbai (Rs4.47 crore), and KPB Marine Service at Central Bank of India in Jaipur (Rs4.53 crore). The embezzled money was subsequently channeled through various bank accounts in the aforementioned states.
Following the discovery of the fraud, police arrested bank manager Devendra Singh from Kashipur and cashier Priyam Singh from Rudrapur. SP City Manoj Katyal stated, “Our teams are actively searching for the remaining five suspects involved in this scam. Raids are underway in Chandigarh, Maharashtra, Rajasthan, and Haryana.”
Additionally, the police have summoned several account holders for questioning. One individual from Maharashtra has been called in after it was found that Rs1 crore was transferred to their account.
In response to the situation, IndusInd Bank announced plans to conduct a forensic audit, hiring an external agency for the investigation. A specialized forensic team, led by JP Dutta, regional head of operations for UP and Uttarakhand, will spearhead the inquiry into the embezzlement case.