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The Noida Industrial Development Authority filed a complaint Tuesday against a public sector bank and its officials for alleged embezzlement of Rs 3.80 crore from its fixed deposit (FD) account. One person has been taken into custody and is being questioned by officials, said police.
“On 23.06.2023, the Noida Authority had given Rs 200 crore as fixed deposit in the Sector 62 branch (of the bank). The bank also provided papers to the authority that said money had been deposited as FD. As per FD rules, no money can be withdrawn (in a fixed time period). But Rs 3.80 crore was withdrawn and given to three persons without the authority’s approval. As soon as we got this information, the authority filed a complaint against (the bank),” said the Noida Authority in a statement.
The authority said the bank has given assurance in writing that they will return all the money.
Noida Additional DCP Shakti Mohan Awasthy said, “A complaint was received from Noida Authority that Rs 3.80 crore was embezzled, which they had deposited as FD… An FIR under IPC sections 420 (cheating), 409 (criminal breach of trust by public servant, or by banker, merchant or agent), 467, 468, 471- all three related to forgery- and 120B (criminal conspiracy) has been registered. The bank official and other officials are being investigated.”
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