Rs.1 crore cash missing from Punjab National Bank Currency Chest in Mandsaur Madhya Pradesh
Rs.1 crore cash discrepancy has been reported at the Punjab National Bank Currency Chest in Mandsaur, Madhya Pradesh. The officer posted in the currency chest has filed a petition in the Madhya Pradesh High Court. The officer has sought an independent investigation into an alleged ₹1 crore cash discrepancy in the bank’s currency chest located in Mandsaur, Madhya Pradesh.
The petitioner has alleged that there was manipulation of official records, concealment of the actual cash position, and attempts to shift the responsibility for the discrepancy onto him.
What Is the Case About?
According to the petition, the bank officer joined the Punjab National Bank, Mandsaur branch, as the Branch Manager and took charge of the currency chest on May 6, 2025. The charge of the currency chest was formally handed over to him by O.P. Sharma, who continued to work at the same branch until June 2, 2025. The petition has been filed by Bank Officer Anuj Sharma, who is currently under suspension.
The petition states that he was placed under suspension despite being the officer who first detected and reported the discrepancy. He has approached the Court claiming protection as a whistleblower and alleging apprehension of retaliatory action.
After taking charge, the petitioner examined the currency chest records and allegedly found serious differences between the actual cash records maintained in Bin Cards and the figures shown in the daily currency chest reports that were sent to the bank’s higher authorities.
Allegations of Record Manipulation
The petition claims that the discrepancies were not accidental but part of a continuous pattern of manipulation of official records. According to the petitioner, the actual cash position in the currency chest was allegedly concealed by preparing incorrect daily reports. He has alleged that these reports were used to hide the real shortage of cash.
The petitioner has alleged that mismatches were found between Bin Cards, Bin Registers and Daily Currency Chest Reports maintained for the chest. The petition states that the discrepancies were linked to a bin containing ₹500 denomination notes and that inconsistencies in the records continued over several months. According to the chronology placed before the Court, the irregularities were first reflected in records from January 2025 and continued thereafter.
Officer Reported ₹1 Crore Discrepancy
After discovering the alleged shortage, the petitioner informed the Circle Head of Punjab National Bank, Ujjain, through a detailed communication dated May 13, 2025. In his report, he disclosed an alleged cash discrepancy of ₹1 crore. The matter was also brought to the notice of other concerned bank officials, including O.P. Sharma.
Cash Allegedly Arranged Before Audit
The petition further alleges that before the scheduled audit on September 22, 2025, the petitioner was repeatedly told that the issue would be managed.
Later, he allegedly discovered that ₹1 crore was temporarily arranged from Smriti Nagrik Sahakari Bank, a local cooperative bank, only for the purpose of the audit. According to the petition, the money was returned after the audit was completed.
The petitioner has claimed that these allegations require a detailed investigation by examining bank records, cash transactions, and statements of the officials involved. He also informed another branch employee who was serving as the Joint Custodian of the currency chest.
Audit Office Sought Explanation From the Petitioner
The petitioner stated that on May 19, 2025, he received an email from the PNB Zonal Audit Office, Bhopal, asking him to explain certain issues. A second email was sent on May 26, 2025, referring to a supplementary investigation. According to the petition, these communications raised issues such as the non-maintenance of the takeover register for temporary joint custodians and the storage of duplicate vault keys.
Officer Alleges Bank Is Shifting Responsibility
The petitioner has claimed that despite reporting the ₹1 crore discrepancy to senior officials, the bank later attempted to hold him responsible for the alleged manipulation of records. He argued that instead of investigating the reported shortage, the focus shifted towards questioning his conduct.
Complaints Made to CBI and Police
The petition states that the officer submitted a representation to the Director of the Central Bureau of Investigation (CBI) on June 8, 2026, requesting an independent inquiry into the alleged cash discrepancy. He also filed a complaint with the Superintendent of Police, but according to the petition, no effective action was taken.
What Did the Officer Ask the High Court?
After receiving no relief from the authorities, the petitioner approached the Madhya Pradesh High Court. He has requested the court to direct an independent investigating agency to examine the matter. The petition seeks a detailed investigation based on:
- Audit records
- CCTV footage
- Cash movement records
- Currency chest records
- Vault access records
- Statements of the concerned officials
High Court Issues Notice
After hearing the matter, the Madhya Pradesh High Court issued a notice on the writ petition and sought responses from the concerned parties. The case is now before the High Court for further proceedings.
Justice Sandeep N. Bhatt, hearing the matter at the Indore Bench, granted time to the respondents to file their replies. The Court recorded that counsel appearing for the Central Bureau of Investigation sought time to respond, while counsel representing Punjab National Bank authorities requested time to place their vakalatnama on record. The Court directed the respondents to file their replies within three weeks and listed the matter immediately thereafter.
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