Case Registered Against Former Indian Bank Branch Manager in Alleged Rs 19 Crore Loan Fraud
Pilibhit Police have registered an FIR against a former Indian Bank branch manager and other officials over an alleged ₹19 crore loan fraud. The complainant alleged that Indian Bank officials fraudulently sanctioned a ₹19 crore cash credit limit without his consent by forging his and his wife’s signatures. He further claimed that ₹13.61 crore was transferred without authorization through RTGS.
The Sungarhi Police in Pilibhit, Uttar Pradesh have registered a criminal case against the former branch manager of Indian Bank and other bank officials after a court order. The case was filed on the complaint of a rice mill owner, who alleged a multi-crore financial fraud involving forged signatures, fake bank records, and unauthorized transactions.
Rice Mill Owner Makes Serious Allegations
The complainant, Mohammad Zeeshan, is the owner of Ujaif Agrotech Rice Mill and a resident of Civil Lines North, Pilibhit. He stated that his firm’s Cash Credit (CC) account was earlier maintained at the Gandhi Stadium Road branch of Indian Bank. Around two years ago, the account was closed and shifted to Punjab & Sind Bank.
₹19 Crore CC Limit Sanctioned Without Consent
According to the complaint, in December 2025, the then branch manager, Amit Verma, offered to sanction a Cash Credit limit of ₹25 crore. Zeeshan claimed that he did not agree to the proposal. However, despite his refusal, a CC limit of around ₹19 crore was allegedly sanctioned without his knowledge or approval.
He further alleged that his signatures were forged on several bank documents. He also claimed that his wife was made a guarantor without her consent and that her signatures were forged while she was critically ill and admitted to a private hospital.
Alleged Unauthorized Transfer and Fake Transactions
The complaint states that about ₹13.61 crore was transferred to Punjab & Sind Bank through RTGS without any formal application or proper banking process. Zeeshan also alleged that officials from Indian Bank and Punjab & Sind Bank worked together to carry out fraudulent transactions. He said Large cash withdrawals were also allegedly made from the account.
Complainant Claims Bank Promised to Correct the Issue
Zeeshan stated that the current branch manager, Dilip Kumar, assured him on 29 May that the irregularities would be corrected and the money withdrawn illegally would be credited back. Trusting this assurance, he deposited ₹27 lakh towards the overdue amount and submitted documents for an alternative property through a bank employee. However, he alleged that no further action was taken by the bank.
Police Begin Investigation
City Circle Officer (CO) Amarnath Verma confirmed that an FIR has been registered in the case. The police have been directed to investigate the allegations and complete the inquiry based on the available evidence. At this stage, the allegations are under investigation, and the role of the accused officials will be determined during the course of the probe.
