FIR Filed Against Bank of India Branch Manager as Customer’s Wife withdrew all money from Account
An FIR has been lodged against the branch manager of the Bank of India (BOI), following a complaint by a customer who alleged that his wife withdrew Rs 80 lakh from their joint account and absconded. The incident, which unfolded in Bhilai, Chhattisgarh, also involves legal action against the complainant’s wife and brother-in-law. The case was registered on the orders of the Judicial Magistrate First Class (JMFC), Bhagwan Das Panika.
Background of the Case
The complainant, Nataraja Mudliar, is a retired employee of Bhilai Steel Plant (BSP) and a resident of Bhilai Sector 6. In August 2019, Nataraja retired and received Rs 80 lakh as his retirement fund. He deposited the entire amount into a joint account at the Bank of India, which he held with his wife, Rajkumari Mudliar.
Discovery of the Fraud
After depositing the retirement funds, Nataraja’s wife and brother-in-law, Govind, persuaded him to invest the money in various schemes. Trusting their advice, he signed a cheque and handed it to his wife. However, when Nataraja attempted to transfer a portion of the funds to his mother’s account in September 2019, he was shocked to find that the joint account had been completely emptied.
Upon further investigation, it was revealed that Rajkumari and Govind had withdrawn the entire Rs 80 lakh and fled to Chennai. Nataraja was left devastated by the betrayal and loss of his life savings.
Legal Action and Court Intervention
Initially, Nataraja filed a complaint at the local police station, but no action was taken. Left with no choice, he approached the court. The Judicial Magistrate First Class directed the registration of an FIR against the Bank of India branch manager, citing negligence in alerting the account holder about such a significant withdrawal.
The court also ordered the registration of cases against Rajkumari Mudliar and Govind for their roles in the fraudulent withdrawal and subsequent absconding.
Allegations Against the Bank
The FIR against the branch manager highlights alleged negligence and protocol violations by the bank. Nataraja contended that as a joint account holder, he should have been notified of such a large withdrawal, especially when the account was nearly emptied. This failure on the part of the bank has raised questions about the institution’s safeguards for protecting customers’ funds.
Key Takeaways
- Negligence by Bank: The bank’s alleged failure to notify Nataraja of the massive withdrawal led to the involvement of the branch manager in the FIR.
- Breach of Trust: The case also highlights familial betrayal, as the complainant’s wife and brother-in-law misused his retirement funds.
- Court-Ordered FIR: Legal action was initiated only after intervention by the court, emphasizing the importance of judicial oversight in such matters.
This incident underscores the need for stricter banking protocols to prevent unauthorized access to joint accounts and ensure customer protection, particularly for vulnerable account holders like retirees.
Nonsense logic. If the mode of operation is E or S how is manager liable. Cheque with bearer is always being honoured that too account holder. Bankers are so vulnerable inspite of clear rules we still fall prey to to such verdicts.
The FIR against branch manager will be squashed by higher court in the absence of any circumstancial evidence showing contributory negligence by the Branch Manager. Prima Faci there no IPC section was quoted.
When the account holder himself has signed cheque and gave it to his wife, what is the need for the bank to alert him ? He is not in order if he has signed a blank cheque. If his wife has betrayed him, bank has no role in it.
Bank is not at all responsible in this case. How FiR was filed agsinst Bank Manager is a very big question . bankers are easy targets.
It is ethical to inquire/inform/alert the account holder in cases when a large sum is being withdrawn or transferred. However, there is no legal binding to do so & hence, the branch manager can’t be held accountable.
Bankers are the like, parentless children in Society. No one question in favour of Bankers and any one question against Bankers.
The news item merely says “Joint account” – whether MoP is JOINTLY or E OR S is not known. There is no liability on Bank to inform the joint account holder for withdrawal of funds by another account holder if it is an E or S account. And whether the retiree kept entire money in SB account?