Axis Bank News: Korba Municipal Corporation Funds missing from Axis Bank Account, FIR filed against Bank
A serious case of financial irregularity has come to light involving the Korba Municipal Corporation in Chhattisgarh. Around ₹79.42 lakh has gone missing from the corporation’s account, and the money was supposed to be deposited in Axis Bank by a private company called CMS. This amount was collected as daily revenue by the municipal body.
What Happened?
From January 2023 to January 2024, the CMS company was responsible for collecting money from the municipal corporation and depositing it into the corporation’s account at Axis Bank’s TP Nagar branch in Korba. However, during this entire period, the money was never actually deposited.
The issue came to light when the municipal officials checked the bank records and noticed that the collected funds were missing from the account. Immediately, an internal investigation was launched.
FIR Filed Against Axis Bank
After a preliminary inquiry, the Assistant Accounts Officer of the Municipal Corporation, Pradeep Kumar Sikdar, filed an FIR (First Information Report) at the Civil Lines police station. In the complaint, it is alleged that the then Axis Bank management was involved in the embezzlement of funds.
Committee Report Confirms Missing Money
To get to the bottom of the matter, the corporation formed a special investigation committee. The committee reviewed the transactions and confirmed that the ₹79.42 lakh was indeed never deposited into the municipal corporation’s Axis Bank account in Korba.
Police Investigation Underway
According to Police Station In-Charge, Pramod Dansena, a case has been registered under relevant sections of the Bharatiya Nyaya Sanhita (BNS) for embezzlement. The police have summoned Axis Bank officials and CMS company representatives for questioning. The investigation is ongoing, and further action will be taken based on the findings.
Role of CMS Company
It is important to note that CMS is a company authorized by the municipal corporation to collect and deposit its funds. The corporation trusted CMS to handle the money properly. Since the money was not deposited, both CMS and the bank’s role are under suspicion.
The authorities have said that whoever is found responsible—either from CMS or the bank—will be strictly dealt with as per law.
This case raises serious concerns about financial management and accountability. With nearly ₹80 lakh missing, the investigation will likely focus on who was responsible for the daily cash deposits, how the bank failed to reflect the transactions, and whether there was any criminal intent behind the missing funds.
