A shocking case of fraud involving Rs 10 crore has been uncovered at the Madhya Pradesh State Seed Certification Institute. This serious situation involves a former manager of the Central Bank of India and his assistant, who are accused of stealing this large sum.
What Happened?
The fraud came to light late on a Saturday night when the Kotwali police in Bhopal registered a case against both individuals. The State Seed Certification Institute had invested in two fixed deposits (FDs), each worth Rs 5 crore, at the Central Bank of India. The institute kept detailed records of all the amounts deposited across various banks.
Recently, when the institute checked on the status of their FDs at the Central Bank, they were alarmed to discover that one of the FDs had been prematurely broken. This discovery led them to investigate further, and the results were troubling.
Investigation Reveals the Culprits
The investigation revealed that Brajendra Das Namdev, the bank’s peon, had transferred the FD amount into his own account. This fraudulent activity took place when Noyal Singh was the bank manager. Both the FDs were created and subsequently broken during his tenure.
Following the revelation of the fraud, the State Seed Certification Institute promptly filed a complaint with the police. According to TI Kashiram Kushwaha from the Kotwali police station, a formal case of fraud has been established against both the former manager and the peon. The police have initiated a manhunt to apprehend the suspects, who are currently on the run.
Administration’s Response
This incident has raised significant concerns regarding the security and internal controls within the banking system. In light of the seriousness of the situation, both the state government and bank authorities have pledged to take strict actions against the individuals involved. They are considering new policies and enhanced security measures to prevent similar fraudulent activities in the future.
The Madhya Pradesh State Seed Certification Institute has expressed an urgent need for action and hopes that justice will be served swiftly. This case serves as a critical reminder of the importance of transparency and security in banking, highlighting the need for robust systems to prevent such incidents.
Ongoing Police Action
As stated by TI Kashiram Kushwaha, the police have officially registered a case of fraud against Noel Singh and Brajendra Das Namdev for their roles in breaking the FD. Investigations are ongoing to determine if any other individuals were involved in this scheme.
The police are conducting a thorough investigation, and there is an expectation that the accused will be caught soon. This fraud has raised serious questions about the integrity and transparency of the banking system, and authorities are committed to addressing these concerns to ensure that such incidents do not happen again in the future.
