As per reports, around ₹150 crore belonging to Panchkula city in Haryana has allegedly been misused by AU Small Finance Bank and Kotak Mahindra Bank. Fixed Deposits (FDs) made by the Municipal Corporation were reportedly transferred into fake accounts. The Haryana government has started a detailed investigation into the fraud.
On Monday, police were deployed outside the bank branches. Employees were not allowed to enter the banks or open the doors. As a result, many employees were seen standing outside on the road.
According to reports, employees of both banks are not cooperating with the Haryana Police in the investigation. Because of this, police forces have been posted outside the branches.
The Panchkula Municipal Corporation had invested ₹150 crore in Fixed Deposits with Kotak Mahindra Bank. Vinay Kumar, Commissioner of the Municipal Corporation, said that many FDRs (Fixed Deposit Receipts) were kept at the Panchkula branch for a long time. The Panchkula Municipal Corporation had opened an account in the Sector-11 branch of the bank. The bank had 16 Fixed Deposits (FDs) of the Corporation, which were earlier transferred from SBI. Now it has been found that records of five FDs are missing.
When the scam was first noticed, officials asked the bank to return the FD money after maturity. The bank replied that it had no records of the FDs with the given reference numbers.
This reply shocked the Municipal Corporation. An investigation team was formed, including the Accounts Officer, Commissioner, and Joint Commissioner. The team prepared a report and sent it to the government and the bank.
The fraud was carried out very cleverly. Bank employees kept sending FD renewal documents, so officials believed everything was normal. Because of this, officials did not check the real status of the accounts.
Originally, the Corporation had two bank accounts. Later, two more accounts were opened using the same documents without proper approval. Money from these accounts was then transferred to different accounts. Reports say that a large amount was also sent to a woman linked to the bank.
The FD amounts were renewed again and again, but officials did not verify the details. Recently, when officials tried to withdraw the money, a bank employee visited them and offered to renew the FDs at a higher interest rate. This raised suspicion and officials did not trust the offer, and the full scam came to light.
The Haryana Police are investigating the case. However, due to a lack of cooperation from bank employees, the police have taken strict action. Bank branches have been locked, and employees are not being allowed to enter.
