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The Central Crime Branch (CCB) of Chennai Police has registered a case against the Managing Director and the Branch Manager of IndusInd Bank’s Anna Nagar branch after a shocking complaint by an NRI couple from the United States.
Overseas Indians, officially Non-Resident Indians and People of Indian Origin, are people of Indian descent who reside or originate outside of India.
The couple, Dr. Vijay Janakiraman (77), a well-known cardiologist in the US, and his wife Malliga (70), both residents of Ashburn, Virginia, reported that they lost ₹4.36 crore from their fixed deposits due to an unauthorised premature closure of their accounts.
Dr. Janakiraman, who is also known for donating ₹6 crore to Harvard University to establish a Tamil Chair, and his wife had invested their savings in fixed deposits at IndusInd Bank’s Anna Nagar branch.
The complaint was filed by M. Ravi of T. Nagar, who holds the couple’s power of attorney in India. According to him, the couple’s fixed deposits were closed without their knowledge or consent, and the money was transferred to unknown accounts.
Ravi said that neither he nor the couple ever received any SMS or email alerts about the closure of deposits or the transfer of funds. He further alleged that bank staff may have forged documents to misappropriate the couple’s money.
Despite repeated attempts to file a complaint with the bank and even the Reserve Bank of India (RBI), no action was taken. “We strongly suspect this was an organised fraud involving forgery and cheating. The couple has lost a huge amount of money due to these illegal activities,” Ravi mentioned in his complaint.
The case is now being handled by Inspector N. Minorsamy of the Bank Fraud Investigation Wing, Alpha-1, Central Crime Branch. After a preliminary inquiry, the police registered a case under multiple sections of the Indian Penal Code, including:
- Section 409 – Criminal breach of trust
- Section 467 – Forgery
- Section 468 – Forgery for the purpose of cheating
- Section 471 – Using forged documents as genuine
- Section 420 – Cheating
The Chennai Police confirmed that a case has been registered against the IndusInd Bank Managing Director and the Branch Manager of Anna Nagar branch. The investigation is currently underway to uncover how such a large-scale fraud was carried out.
More details will be released soon.
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