CBI detects fraud of over Rs 1 crore in Canara Bank

The Central Bureau of Investigation has registered a case under Sections 120-B,420,467,468,471 and 511 of the IPC on a complaint made by General Manager,Canara Bank,Chandigarh...

The Central Bureau of Investigation has registered a case under Sections 120-B,420,467,468,471 and 511 of the IPC on a complaint made by General Manager,Canara Bank,Chandigarh,regarding a fraud of Rs 1,31,81,785 in their Sector 35-B branch,Chandigarh. It was alleged in the complaint that the branch maintains a cash credit account of a Mohali-based company and during the period from October 15 to 27,2009,15 cheques favouring two Gurgaon-based firms were passed/debited in their account. As per the complaint,the cheques were not issued by the firm.

The bank conducted an internal inquiry and found that a fictitious firm had two accounts in ICICI Bank,Lajpat Nagar,2nd branch,New Delhi and Lajpat Nagar,4th branch,New Delhi and one account in Kotak Mahindra Bank,Okhla branch,Delhi. Similarly,another Gurgaon-based fictitious firm also had an account in the Okhla branch of Kotak Mahindra Bank. All these accounts were opened by one person as proprietor. The payment of all the 15 cheques was collected by ICICI Bank and Kotak Mahindra Bank. The ICICI bank had also presented 2

cheques amounting to Rs 7,90,660 and Rs 8,16,035 for collection of payment on October 30,2009,on behalf of Gurgaon-based fictitious firm but the payment of these cheques was not released as the fraud had come to the notice.

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The proprietor based at Shayam Vihar,Najafgarh,New Delhi,was arrested and on the basis of disclosure made by him,two more accused of Chatterpur Enclave,Madangari Road,New Delhi and Jhilmil Colony,Vivek Vihar,Delhi,were arrested. The custodial interrogation revealed the modus operandi adopted by the accused to cheat the bank by printing forged cheques. All the accused persons are in judicial custody July 2.

During the course of CBI investigations,the proprietor admitted to having opened fictitious accounts of two firms.

Fake cheques of Canara Bank were printed and the signatures of authorised signatory of the Mohali firm were forged. The employee of Canara Bank admitted having provided the details of the account from the bank system.

The accused include Neeraj Kumar Chauhan,proprietor,Sanjeev Kumar Verma,Mukesh Kumar,an employee of Canara Bank,Swaraj Mazda Ltd,Mohali,Gracewell Trading Co,Palam Vihar,Gurgaon and ABS Enterprises,Gurgaon.

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