Indore (Madhya Pradesh): In a significant development stemming from a Madhya Pradesh High Court’s order, the MG Road police station in Indore has registered an FIR regarding an alleged Rs 1.36 crore fraud involving a bank account opened in the name of M/s Janak Intermediates Limited without authorization.
The Indore-based complainant, Vishnu Kumar Bhaiya, a former director of M/s Janak Intermediates, had approached the HC regarding the matter. The court directed the MG Road police to register an FIR and initiate a formal investigation against unknown persons.
According to the FIR, the case dates back to 1997, when an unauthorized current account (No 4001528) was opened in the name of M/s Janak Intermediates at the Bank of Punjab, Bandra (West) Branch, Mumbai.
The complainant alleges that:
Forged Documents: The account was opened using forged signatures and photographs of himself and the late Ramniwas Bhaiya, who had resigned from the company in 1991 and passed away in 1994, years before the account was allegedly opened.
Identity Theft and Fraud: The bank failed to adhere to mandatory KYC procedures and permitted the account to be operated by unauthorized individuals.
Embezzlement: Over the years, approximately Rs 1.36 crore has been transacted through this fraudulent account.
The complainant further stated that his repeated efforts to obtain information about this account from the Bank of Punjab (which later merged with Centurion Bank and subsequently with HDFC Bank) were met with silence and non-cooperation for years as the bank management was aware of the opening of this fake account.
Legal Action
The police have registered the case under Sections 120-B, 419, 420, 467, 468 and 471. The complaint highlights that the responsibility now lies with the HDFC Bank Mumbai, which holds the management and records of the former Bank of Punjab branch.
