Bank gets a scare as EC team almost seizes Rs 70 lakh

The officials of Mehsana Urban Cooperative Bank Limited (MUCBL) got a good lesson on Monday when two of their employees carrying Rs 70 lakh in cash in a Maruti van were caught at Derol checkpost by a team of the Election Commission as they were not carrying proper documents with them.

Written by Express News Service | Ahmedabad | Published: October 16, 2012 2:11 am

The officials of Mehsana Urban Cooperative Bank Limited (MUCBL) got a good lesson on Monday when two of their employees carrying Rs 70 lakh in cash in a Maruti van were caught at Derol checkpost by a team of the Election Commission as they were not carrying proper documents with them.

Even as EC officials handed over the case to Income Tax department,senior MUCBL officials rushed to the spot with documents to prove that the money was being transferred from their Himmatnagar branch to the Mehsana branch. The money was then released.

Pradipsinh Rathod,Electoral Registration Officer of Vijapur,in whose jurisdiction the cash was seized,said the incident was in fact a big lesson for bank officials. He said it was in total violation of RBI rules as well because the bank employees were not only without proper documents but were also carrying such a huge amount without any security.

Meanwhile,in Ahmedabad,EC teams seized unaccounted cash of Rs 3.5 lakh being carried in a car in Gomtinagar area and handed it over to I-T officials.

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