In Loan Fraud Case, Female Branch manager of PSU Bank suspended in Uttar Pradesh



At the Punjab National Bank (PNB) branch in the Shernagar region, a significant fraud case has been discovered. A female bank manager assigned to the branch has been charged with defrauding the bank by abusing her position and using fictitious documentation to obtain a Rs 40 lakh home loan. 


 An internal investigation was started by the bank management as soon as the issue was discovered. The accused bank officer was immediately suspended from her position after it was confirmed that fraud had definitely occurred. 


 Additionally, the bank has accused her of fraud and breach of trust in a First Information Report (FIR) that was submitted to the police station. Police are currently pursuing legal action against her.


Shivansh Verma, the son of Shivkumar Verma, the manager of the same PNB Shernagar branch, filed a complaint. He complained about the old manager's financial theft at the New Mandi Kotwali police station. 


 His complaint states that from July 17, 2021, to May 2, 2023, Amrita Singh, the wife of Lokendra Singh and a native of Rampur village in the Kanpur Nagar area, served as the Branch Manager at PNB Shernagar. She currently resides in Gokul City, Muzaffarnagar, with her family.


How the Fraud Happened

Amrita Singh requested for a house loan from her own branch when she was the branch manager in order to purchase a plot in Dream City, a housing colony being built in Muzaffarnagar. She stated that the purpose of the loan was to purchase land and construct a home on it. 

 
A Rs 40 lakh home loan was authorized by the bank and credited to her personal account. Amrita Singh did purchase the land, but despite the passage of time, no construction has begun on the property. Additionally, it was discovered that she failed to provide crucial paperwork needed for the property's mortgage, which is a prerequisite for obtaining a house loan.


She obtained the entire sum of Rs 40 lakh by abusing her powerful position within the bank and skipping the required procedures. Amrita Singh did not begin construction or adhere to the bank's loan requirements despite multiple reminders from the bank. 


 The bank suspended her after an internal investigation determined that fraud had taken place. The bank subsequently filed an official complaint with the police.


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Home Loan Fraud in Bank, Builder sold same Flat to multiple People


 In a noteworthy development, on July 4, 2025, Harsh Sharma was taken into custody by the Central Bureau of Investigation (CBI) in relation to a housing loan fraud case that began on August 2, 2017. Since the case was initially filed, Harsh Sharma had not participated in the investigation and had been evading capture for eight years. In a protracted investigation, his arrest represents a significant advancement.


The CBI claims that Harsh Sharma and the construction company Shree Balaji Hitech Construction engaged in a criminal conspiracy. His personal information, including his KYC details, was exploited to fabricate home loan applications. He was fictitiously represented by the builder as the buyer of an apartment that never actually changed hands.


The identical apartment was purportedly sold to several phony purchasers in order to defraud Punjab National Bank of loan payments. Through fabricated documentation and fictitious transactions, this fraudulent behavior enabled the builder to unlawfully receive substantial quantities of money from the bank.


On March 19, 2024, the CBI submitted a charge sheet outlining the accused's role before the Special CBI Court in Ghaziabad. The court had issued a non-bailable warrant against Harsh Sharma because he was evading capture and refusing to cooperate with the inquiry. On the morning of July 4, 2025, the CBI team made the last arrest after persistently trying to track him down.


Harsh Sharma was brought before the Special Judicial Magistrate (CBI) in Ghaziabad after his arrest. He is currently being held in judicial detention until July 15, 2025, under the court's ruling. The CBI has said that the matter is still being investigated and that additional information may be revealed as it develops.
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CBI arrests proclaimed offender in historical bank fraud case involving Rs 5.69 lakh at Bank of India(BOI)


Satish Kumar Anand, who was designated a Proclaimed Offender in a bank fraud case involving ₹5.69 lakh from Bank of India, has been taken into custody by the Central Bureau of Investigation (CBI). The case began on May 5, 1978, when the CBI filed a complaint against three individuals:

  1. The Branch Manager of a Bank of India branch
  2. Satish Kumar Anand
  3. Ashok Kumar

CBI alleged that the branch manager and Satish Kumar Anand worked together in a criminal conspiracy to cheat the bank.

  • The bank manager, while working at the branch in 1977, sanctioned a loan to a private company.
  • The loan was given based on fake receipts and false bills, showing goods had been sent out, when in reality, no such shipment took place.
  • As a result, the bank lost ₹5.69 lakh, and this amount wrongfully benefited Satish Kumar Anand.

After investigating, CBI filed a chargesheet in the Special CBI Court in Dehradun.

  • In 1985, the court convicted Satish Kumar Anand and Ashok Kumar, sentencing both to 5 years of rigorous imprisonment and a fine of ₹15,000.
  • The bank manager was acquitted (found not guilty).

How Did Satish Kumar Anand Become a Proclaimed Offender?

After being convicted, Satish Kumar Anand disappeared and did not serve his jail sentence. The CBI Court in Dehradun, on 30 November 2009, officially declared him a Proclaimed Offender, which means he was legally marked as an absconder.

After years of being on the run, CBI arrested Satish Kumar Anand on 25th June 2025. He will now be presented before the Special CBI Court in Dehradun, where further legal action will be taken.

More details will be released soon.

Source -hellobanker.in

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Case Filed Against 5 Bank Officers in Agra, Chief Manager Suspended


In a serious development, the Jagdishpura police station in Agra has registered a case against five Indian Bank officers after an investigation based on a complaint filed by a woman. The case includes charges of fraud, defamation, and violation of the Information Technology (IT) Act, along with provisions under the SC/ST Act.

What Is the Case About?

According to ACP Loha Mandi, Mayank Tiwari, the case was registered after instructions from the SC-ST Commission. The complaint was filed by Preeti Singh, a resident of Nilgiri Enclave, Albatia Road, Agra.

Preeti Singh’s husband, Vikrant Singh, previously served as the Chief Manager at Indian Bank’s Noida branch. He was suspended by the bank in connection with a corruption case. Following his suspension, Preeti Singh filed a complaint alleging that bank officials acted illegally to falsely strengthen the case against her husband.

Who Are the Accused?

The FIR names five Indian Bank officers who are posted in different locations:

  • Vikay Arya
  • Deshbandhu Gupta
  • Archit Gupta
  • Harsha Sahu
  • Vishesh Kumar Srivastava

These officers are posted in Noida, Lucknow, and Chandigarh, as per the FIR.

What Are the Allegations?

Preeti Singh alleged that the bank officers illegally accessed private bank account information belonging to her and her minor daughters, without any official permission. She claims that these details were taken without proper communication or authorization from the banks where these accounts were held, including Canara Bank and the State Bank of India (SBI).

She also said that forged documents were prepared to make false claims, and that every effort was made to damage her social reputation. The accused bank officials allegedly attempted to show that her husband’s corruption charges were valid by misusing their power and accessing private information.

Police Action and Legal Process

ACP Mayank Tiwari confirmed that serious allegations were made against the Indian Bank officials. He stated that the woman had been filing repeated complaints, which eventually reached the SC-ST Commission. After a legal review, police registered the case under relevant sections of the SC/ST Act, fraud, defamation, and the Information Technology Act.

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CBI has filed a case against hotel directors in Rs. 75 crore fraud case of PSU bank


The Central Bureau of Investigation (CBI) has brought a case against two former directors of Maha Associated Hotels Pvt Ltd in a significant effort to combat bank fraud.  Both Yash Deep Sharma and Laxmi Narayan Sharma, who hail from Hyderabad's Gachibowli neighborhood, are charged with defrauding Punjab and Sindh Bank of Rs.75.44 crore.


 Avdhesh Narain Singh, the zonal manager of the bank, filed a complaint, which prompted the CBI's Bank Security and Fraud Branch (BSFB), located in Delhi, to file the FIR.  Charges under IPC Sections 120-B (criminal conspiracy) and 420 (cheating), together with pertinent provisions of the Prevention of Corruption Act, are included in the FIR.  The case also involves a few unidentified private citizens and state employees in addition to the two directors who have been named.


Actual Case

The bank's complaint claims that in 2013, Maha Associated Hotels Pvt Ltd borrowed Rs.75 crore from the Connaught Circus Branch of Punjab and Sindh Bank in New Delhi. In Neemrana, Rajasthan, the loan was intended to finance the building of a hotel, a plaza with food and entertainment, and a hospitality training academy.

However, the bank has claimed that the monies were misappropriated and not used for these initiatives. On December 31, 2016, the account was designated as a non-performing asset (NPA) due to inadequate financial management and loan non-repayment.


What Happened

Maha Associated Hotels Pvt Ltd is not listed as an accused party, despite the fact that the directors are named individually in the complaint.  Under the Insolvency and Bankruptcy Code (IBC), the Jaipur-based business underwent the insolvency process.  A resolution plan for Rs.11.5 crore plus charges for the Corporate Insolvency Resolution Process (CIRP) was authorized by the National Company Law Tribunal (NCLT) in Jaipur on August 13, 2024.  Regretfully, the bank had little to no security available to recoup the outstanding loan balance.


Recovery of Loan Amount

The bank had obtained a mortgage on Neemrana land and other fixed assets in order to secure the loan when it was initially granted.  However, the bank used the SARFAESI Act to take symbolic ownership of the property in 2017 after the borrowers were unable to repay.  The healing process is still ongoing in spite of this.  The bank requested more than 104 crore in a recovery claim submitted to the Debt Recovery Tribunal (DRT).  That lawsuit has not yet been resolved.


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PSU Bank Branch Manager sent to 3 years Jail by CBI

 


In connection with a bank fraud case, a special CBI court in Ghaziabad has convicted two people—a private individual and a former bank manager of Union Bank of India—to harsh jail. Manoj Srivastava, the former Branch Manager of Union Bank of India's SSI Branch in Noida, was given a three-year severe prison sentence and a ₹5 lakh fine by the Special Judge for CBI Anti-Corruption proceedings. Private citizen Raj Kumar Samanta, his co-accused, received a ₹10 lakh fine in addition to four years of hard labor. The court fined the two accused a total of ₹15 lakh.


The case was filed by the Central Bureau of Investigation (CBI) on December 14, 2010, in response to claims that Manoj Srivastava, the branch manager, had processed a loan for Raj Kumar Samanta fraudulently. The bank suffered an unjustified loss as a result. On September 29, 2012, the CBI filed a chargesheet against both accused following a thorough investigation. Following the trial, the court imposed the appropriate sentence after finding both defendants guilty of criminal misconduct and cheating.


This judgment underscores the CBI’s continued crackdown on banking fraud and misconduct by public servants in collusion with private individuals.

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Axis Bank Manager Arrested in Bank of India(BoI) Loan Takeover Case for Rs 2.20 Crore Fraud


Rahul Patel, the branch manager of Axis Bank's Vesu branch, has been charged with fraud by the Athwalines police for allegedly defrauding Bank of India of Rs 2.20 crore by failing to turn over mortgage paperwork during a loan transfer. 


Police say the branch manager of Bank of India's Ghoddod Road branch made the allegation. The issue concerns Siddhi Dasani, who owned Shri Anand Impex in Kadodara and had a Rs 2.20 crore cash credit account with Axis Bank. 


Siddhi approached the Chauta Pul branch of Bank of India to assume the current loan because of the exorbitant interest rates.


A portion of the Rs 7.45 crore fresh loan that the Bank of India approved once all formalities were finished was used to pay off the outstanding balances at Axis Bank.  

Rahul Patel allegedly neglected to shut the previous loan account and provide Bank of India with the original mortgage property paperwork, which are necessary for these loan takeovers, even after receiving the money.


Unexpectedly, Siddhi and her husband, Uttam Dasani, allegedly took money out of the Axis Bank account even after the settlement was reached and then stopped making payments to the Bank of India.  The Axis Bank manager's inaction contributed to this chain of events, which caused Bank of India to suffer a financial loss and call the police.


For willful misconduct and fraud, authorities have filed a First Information Report (FIR) against Rahul Patel. They claim that Patel purposefully concealed important documents, allowing the Dasanis to abuse the system.

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