Rs 79.42 Lakh Missing from Korba Municipal Corporation Account, FIR Filed Against Axis Bank
A serious financial irregularity has come to light involving the Korba Municipal Corporation in Chhattisgarh. An amount of ₹79.42 lakh has reportedly gone missing from the corporation’s account, and an FIR has been filed against Axis Bank’s management.
What Happened?
The Korba Municipal Corporation regularly deposits its daily cash collections into Axis Bank through a third-party service provider called CMS Company. This company is officially authorized to collect the cash from the corporation and deposit it into the bank.
However, between January 2023 and January 2024, the money collected by CMS Company was not deposited into the corporation’s account in Axis Bank’s Korba branch. This massive gap in the fund deposits only came to light recently.
Investigation and Police Case
After realizing that a large amount of money was unaccounted for, the Municipal Corporation formed a special committee to investigate the issue. The committee confirmed that ₹79.42 lakh had not been deposited into the bank account as it should have been.
Based on the investigation findings, Assistant Accounts Officer Pradeep Kumar Sikdar filed a First Information Report (FIR) against the then-management of Axis Bank’s TP Nagar branch. The complaint has been registered at the Civil Lines police station under relevant sections of the Bharatiya Nyaya Sanhita (BNS), which is India’s updated criminal law code.
Police Statement and Next Steps
Police station in-charge, Pramod Dansena, confirmed that a case of embezzlement has been officially registered. The police have started calling bank officials and municipal staff involved in the matter for questioning. A detailed investigation is currently in progress to find out where the money went and who is responsible.
What Is CMS Company’s Role?
CMS Company is the authorized agency assigned by the municipal corporation to collect cash and deposit it in Axis Bank. Since they were responsible for physically handling and transferring the money, their role in the issue is also under scrutiny.
The police said that whoever is found to be directly responsible—whether from the bank, the corporation, or the collection agency—will face action after questioning and investigation.
