Mumbai: ₹1.79 Cr Illegally Transferred From Dead Person's Provident Fund; Man & Bank Employees Booked

Mumbai: ₹1.79 Cr Illegally Transferred From Dead Person's Provident Fund; Man & Bank Employees Booked

Police are now investigating whether the accused is a relative of the deceased or not.

Vishal SinghUpdated: Saturday, February 03, 2024, 11:18 PM IST
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A man and unknown employees of a nationalised bank have been booked for allegedly conspiring to transfer Rs1.79 crore lying in the public provident fund account of a person who died in 2008. In the complaint lodged at the Marine Drive police station, the manager of the Nariman Point branch said that account belongs to late Satishchandra Veerchandra Ghatalia.

Details of case

He accused one Shyamaprasad Vijay Ghatalia of submitting fake documents to the bank and getting the whopping funds transferred in his name. Police are now investigating whether the accused is a relative of the deceased or not. The crime came to the fore when Nanak Ghatalia, one of the legal executors of late Ghatalia, sought to transfer the money to his account. During the process, he found out that the amount had already been swapped to another account.

According to the complainant, Shyamaprasad committed the fraud, with the help of the bank employees. All the accused to show that the deceased was alive, he added. 

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