The Aryavarth Express
Agency (Karnataka): Six officials from the Union Bank of India have been booked for allegedly diverting Rs 94.73 crore from the Karnataka Maharshi Valmiki Scheduled Tribe Development Corporation Ltd to various other accounts, police reported on Thursday. This action follows the suicide of a corporation official, who left a note naming the managing director J.G. Padmanabh, accounts officer Parashuram G. Durugannavar, and Union Bank of India chief manager Suchismita Rawal.
The Union Bank of India stated that it promptly declared the transactions as fraudulent upon discovering the irregularities. The bank has filed a formal complaint with the Central Bureau of Investigation (CBI) and suspended three branch officials pending further inquiry.
A. Rajashekar, general manager of the corporation, filed a complaint on May 28, detailing “severe fraudulent activities” involving the top management of Union Bank’s M.G. Road branch in Bengaluru and other third parties. He reported that the corporation had transferred its account to the M.G. Road branch on February 19, moving Rs 187.33 crore from various banks and the State Huzur Treasury Khajane-II.
Due to the ongoing Lok Sabha elections, the corporation did not communicate with the bank, leading to the bank failing to send a new passbook and cheque book to the registered address. When officials visited the branch on May 21 to collect the documents, they were denied access by the branch officer, who later falsely claimed that the documents had been issued.
Further investigation revealed numerous forged documents, including letters, cheques, and RTGS requests with fake signatures, leading to unauthorized disbursements of funds. The passbook showed that Rs 94.73 crore was disbursed based on these forged documents.
The complainant accused the Union Bank management of failing to address these illegalities and continuing to act in such a manner, despite being aware of the fraudulent acts. The suicide of Chandrashekar P., the account superintendent, who named the managing director, accounts officer, and chief manager in his note, further intensified the allegations.
An FIR has been registered at High Grounds police station, and the CID team is investigating the matter.
The Union Bank of India reiterated its commitment to integrity and transparency, stating that it is fully cooperating with authorities to resolve the issue. The bank emphasized its dedication to its customers and stakeholders, assuring that steps are being taken to prevent such incidents in the future.