Daijiworld Media Network - Mangaluru (SP)
Mangaluru, Nov 1: The police department has intensified its investigation into the illegal transfer of Rs 55 crore from the account of the government-owned Karnataka Rural Infrastructure Development Ltd (KRIDL) maintained in a bank. It is learnt that KRIDL officials too have begun to probe the money transfer incident. In the meanwhile, manager of the bank concerned has disappeared since a police complaint was filed in Suratkal station about this fraudulent transaction.
Police personnel visited Kulai branch of Indian Overseas Bank and verified records in the presence of KRIDL officials immediately after getting know about the fraud.
KRIDL had invested in two fixed deposits in Kulai branch of Indian Overseas Bank amounting Rs 20 crore and Rs 35 crore on August 24 and 30 respectively this year. On this occasion, a fake account in the name of KRDIL was created in the bank. This account was used to transfer funds to other accounts. The fraud came to light after a sum of Rs 50 lac was deposited in a single transaction into the account of Shah Exports in Vijaya Bank, Koramangala branch, Bengaluru. The staff of this branch suspected that something was fishy, taking into account the fact that this account had zero balance since long, and thereafter alerted officials of KRIDL.
It is learnt that KRDIL top officials had come to know about this transaction sometime back and a committee of six top officials which was formed to investigate it, had visited the bank branch on October 21, but the manager had given confusing statements. The officials it is said, returned after asking him to refund the entire amount of deposit along with interest. When they contacted the bank again on October 24, they came to know that the manager had gone on sick leave. Thereafter, they filed police complaint in Suratkal station against manager of Indian Overseas Bank, Sarin Madhusudhan, and regional officer, Senthil Kumar, on October 30.
Strangely, Indian Overseas Bank is yet to file a complaint about this transaction. In all likelihood, investigation in this case will also cover the fake company, relationship between that company and bank manager, and whether there is involvement of any officials of KRIDL in this illegal fund transfer.
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