Mumbai: Special CBI Court Denies Bail To Ex-Bank Of India Officer Accused Of Siphoning ₹16.10 Crore From 127 Accounts

Mumbai, October 31, 2026: A special CBI court has denied bail to former Bank of India (BoI) officer Hitesh Kumar Singla, accused of siphoning off Rs 16.10 crore from 127 customer accounts. Earlier, his bail was rejected by a special court in a money laundering case lodged against him by the Enforcement Directorate (ED).

Singla’s lawyer had claimed that he had been in prison since September 2025 and that the investigation was over. The chargesheet against him had also been submitted. Hence, his further custody was not required.

CBI Opposes Bail Plea

CBI public prosecutor Mayank Singh contended that the accused had closed various types of accounts and schemes belonging to 127 customers without their consent. These included Term Deposits, PPF accounts and Senior Citizen Savings Scheme accounts. A huge amount of more than Rs 16 crore was siphoned off by the accused.

Court Notes Misuse Of Banking Software

The court noted that the accused systematically exploited technical loopholes in the bank’s “Finacle” core banking software.

“The accused misused the maker-checker system of the bank. As per the banking procedure, every transaction requires one Maker and one Checker. The accused acted as maker or checker in almost all transactions involving the transfer of funds from customer accounts to the office accounts and subsequent transfer of those funds to his personal accounts,” the court said.

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It added that the accused misused the logins of other bank employees and put them at risk of criminal prosecution.

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