Tag Archives: Allahabad Bank

Rs. 62.67 million fraudulent bank transaction: Delhi EOW registers FIR on complaint by Amity University

Newsroom24x7 Network

The Economic Offences Wing of Delhi Police this past Friday (10 January 2019) registered an FIR on a complaint originally lodged with the Connaught Place Police station by Amity University on 4 September 2019 alleging that money to the tune of Rs. 62.67 million (Rs. 6,26,75,003) had been withdrawn fraudulently and illegally from its account through forged and fake cheques.

Since the amount involved exceeded Rs. 20 million, the case was handed over to the EOW, which has conducted preliminary investigation and arrived at the conclusion that prima facie a case is made out.

An FIR has been lodged in this case by the EOW, Delhi Police, under Sections 420, 467 466, 120B and 34 IPC.

It is important to note that it took four months for Delhi Police and it’s EOW to conduct preliminary investigation and register an FIR in this case. Does the delay in registering an FIR also makes out a case of abetting money laundering or helping the kingpins of the crime to cover their tracks?

The accused in this case are:

(1) N.S. Infrastructure, Address Unknown, having account beanng no. 085505000862 cheque presented through Regional Processing Centre (RPC) of ICICI Bank. A-4, Rani Jhansi Road, Jhandewalan Extn. New Delhi

(2) Maa Tapit Manav Sewa Sansthan, Address Unknown, having account beanng no. 259101000431 cheque presented through Regional Processing Centre (RPC) of ICICI Bank, A4. Rani Jhansi Road, Jhandewalan Extn. New Delhi

(3) Bhavishyahub Extra World Pre Ltd. Address Unknown, having account bearing no. 201003047935 cheque presented through Indusand Bank Ltd. Noida Sec-51 Branch, U.P.

(4) Other unknown persons.

The Complainant Bank is Allahabad Bank. The complaint has been directed against the offences committed by the accused through the Asstt General Manager heading the Parliament Street branch of Allahabad Bank.

The Complainant Bank maintains that a saving bank account no. 20519034454 in the name of Amity University, Utter Pradesh, was being maintained at their branch at Sector 125 Noida, Uttar Pradesh.

In the normal course of Banking transaction, an amount of Rs. 2,50,30,600 (Rupees Two Crore Fifty Lacs Thirty Thousand Six Hundred) was transferred in the account of “N.S. Infrastructure” (account no. 085505000862 maintained with ICICI Bank). This was against a cheque presented through ICICI Bank that was cleared in the cheque truncation system (CTS System). This cheque (number 281995 dated 22.08.2019 and presented on 31.08.2019) was cleared by the service branch of Alahabad Bank at Parliament Street, New Delhi. The beneficiary of this instrument is N.S. Infrastructure.

As part of Banking transaction, an amount of Rs. 2,70,30,400/- (Rupees Two Crore Seventy Lacs Thirty Thousand Four Hundred Only) was transferred against another cheque in the account of “Maa Tapit Manav Sewa Sansthan” (account no. 259101000431 maintained with ICICI Bank). This cheque was presented through ICICI Bank and was cleared in the cheque truncation system (CTS System). On being presented this cheque bearing number 281990 dated 21.08.2019 on 31.08.2019, was also cleared by the service branch of Allahabad Bank at Parliament Street.

The beneficiary of this Instrument Is Maa Tapit Manav Sewa Sansthan

Similarly, an amount of Rs. 1,06,14,003/- (Rupees One Crore, Six Lacs Fourteen Thousand Three Only) was transferred in the account of Bhavishyahub Extro World Pvt Ltd (account no 201003047935 maintained with Indusand Bank Ltd. Noida Sec-51 Branch, U.P.) on presentation of cheque bearing number 281992 dated 30 08 2019 on 04.09 2019. Even this cheque was cleared by the Parliament Street branch of Allahabad Bank. The beneficiary of this instrument is Bhavishyahub Extro World Pvt Ltd.

The authorised representative of Amity University, Uttar Pradesh, had visited the Allahabad Bank branch to collect the monthly account statement on 4 September 2019 and the bank was informed that day that they had not issued the cheques that had led to the transfer of huge sums of money into the accounts of the accused persons. A complaint was then lodged with the bank about the fraudulent transactions from its bank account by Amity University and it was claimed that the transactions were carried out without their knowledge and information and the University orally sought the refund of money.

Thereafter, the Allahabad Bank officials raised the matter with the concerned branches of ICICI Bank & IndusInd Bank Ltd to hold on to the said amount and to refund the same. Allahabad Bank also requested the other banks to disclose the details of the beneficiaries linked to the accounts in question.

Further investigation in this case is continuing.

Allegation of massive misappropriation by MP Housing Board and Allahabad Bank officers; Complaint lodged with CBI

Newsroom24x7 Network

The system being used by the MP Housing Board for its clients and customers to deposit money into the account of the Estate Officer in Allahabad Bank against deposit slips titled as challan is against all rules and smacks of a huge scam. The complaint relates to what is available as evidence in the state capital. What needs to be investigated is the state of affairs across all the cities of Madhya Pradesh before and after partition of the State and creation of separate Chattisgarh State in the year 2000. – Vijay Kumar Tiwari, complainant

Bhopal: A Bhopal resident this Independence Day (15 August 2018) has lodged a complaint with the CBI alleging irregularities and massive misappropriation by officers of Allahabad Bank in league with the officials of Madhya Pradesh Housing and Infrastructure Development Board.

The complainant Vijay Kumar Tiwari has brought to the notice of CBI that the Arera Colony Branch of Allahabad Bank, functioning from the office apartment of the Sampatti Adhikari (Estate Officer) No. 6 of MP Housing Board, has titled its Deposit-slip as a challan. This, according to him, is in gross violation of the Civil Procedure Code as Government challan is an authorised document of the State Bank of India under Treasury Rule 69, which includes columns certifying the Payment, Acknowledgement Receipt with the seal of the receiver.

Bank Challan is a deposit voucher for a specific purpose like Fee payment, tax deposit etc. This is different from regular deposit slip

It has been pointed out in the complaint that Allahabad Bank‘s Deposit-slip is not a challan but a counterfoil in respect of cash or cheques deposit and does not acknowledge Receipt by the payee. In the case of a challan, payment received is invariably recorded in cash register and is duly audited whereas deposits are a case of money transaction.

From the transaction procedure followed between the Estate Officer of MP Housing Board and Allahabad Bank, the complainant has said that it is not clear whether or not the Housing Board has regulated the HOUSING BOARD FUND in accordance with Section 60 (1-5) of the MP Housing Board Act 1972. Only an investigation into this matter will reveal if the State Government had directed the waiver of sub-Section 4 and 5 of Section 60 and authorised Allahabad Bank to receive payment deposits titled as Challan without acknowledging receipt. If this was not the case, then question arises, where the deposited sum, may be running into billions of rupees as millions of citizens would have made payments through these unregulated counterfoils titled as Challan, during more than four decades of the Housing Board’s existence, has been transferred as the State Bank does by transferring payment received to the Government Treasury.

The complainant has pointedly asked in case, the Estate Officer has been assigned the extra-duty of operating Accounts of the Board, then in which Bank the Board has opened the Account in the name of ‘The HOUSING BOARD FUND’, operated by the Estate Officer?

Allahabad Bank declaring the counterfoil as Challan raises the issue of misappropriation by both the Bank Officers in league with Housing Board Officers, the complainant has alleged.

When contacted, Vijay Kumar Tiwari, the complainant, said that the system being used by MP Housing Board for its clients and customers to deposit money into the account of the Estate Officer in Allahabad Bank against deposit slips titled as Challan is against all rules and smacks of a huge scam. He told Newsroom24x7 that the operative portion of his complaint relates to Bhopal and what needs to be investigated is the state of affairs as it has prevailed across cities in Madhya Pradesh before and after partition of the State and creation of separate Chattisgarh State in the year 2000. Tiwari also wants to know why the Accounts Officer of Housing Board was not operating the concerned account and also whether all procedures, under the rules, had been followed to authorise the Estate Officer to operate the Housing Board account with Allahabad Bank. He also wants to know whether the Housing Board account in the name of the Estate Officer has been audited regularly?