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Time of India
a day ago
- Time of India
Bank officer held for 27L fraud
Lucknow: The economic offences wing (EOW) of the UP Police on Monday arrested Chheda Lal Anuragi, former bank officer, accused of orchestrating Rs 27 lakh fraud by opening fake accounts in collusion with bank staff and others. He was arrested in Agra where he was posted as branch manager at Indian Bank, Holipura. EOW said that the case dates back to 2006, when Anuragi served as retail banking officer at the Allahabad Bank branch in Atarra, Banda. He along with other officials allegedly opened two fraudulent accounts using forged documents and IDs. Similar fake accounts were opened in Union Bank of India, Punjab National Bank, Central Bank of India and Bank of Baroda. Using these fake accounts, chequebooks were issued and account payee cheques were deposited at Allahabad Bank's Atarra branch. Courier stafffalsely cleared these cheques, allowing payment of large sums. Investigations revealed that the original accounts held only nominal balances (as little as Rs 1,000–2,000), yet multiple high-value cheques were cleared. This coordinated fraud led to the illegal withdrawal of around Rs 27 lakh from Allahabad Bank's Atarra branch, causing significant financial loss. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Undo The bank's then-manager, KP Dinkar, filed an FIR on April 7, 2006, at Atarra police six accused. The case was transferred to the EOW on Aug 20, 2015. Subsequent investigation found 11 individuals guilty — including six bank employees and five others. The five private accused have already been arrested. "Anuragi was apprehended on July 14, 2025, following a special arrest operation ordered by EOW director general Neera Rawat," said a senior EOW officer.
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Business Standard
13-06-2025
- Business
- Business Standard
K Ramachandran appointed part-time chairman of Tamilnad Mercantile Bank
The board of Thoothukudi-headquartered Tamilnad Mercantile Bank (TMB) has appointed veteran banker K Ramachandran as an Additional Director (Non-Executive Independent) and also cleared his name as the Non-Executive Part-Time Chairman of the bank. While the appointment as Additional Director will be for three years from Friday, the appointment as Part-Time Chairman will be effective from the date of approval by the Reserve Bank of India (RBI), up to 11 June 2028. Ramachandran is a veteran banker with over three decades of extensive experience across various domains of banking. He began his career as an officer and steadily rose through the ranks to become a Whole-Time Director. He served as Executive Director at both Allahabad Bank and Indian Bank. In addition, he held directorial positions at Indbank Merchant Banking Services and Indbank Housing Finance. He was also nominated by Allahabad Bank to serve as a Nominee Director at Universal Sompo General Insurance Ltd. During his tenure as Executive Director, he led several strategic initiatives, including total branch automation, the implementation of core banking with electronic delivery channels, and centralisation of key banking operations such as retail loan processing, centralised KYC, and centralised account opening — efforts aimed at ensuring uniformity and improved operational control.
Time of India
27-05-2025
- Business
- Time of India
5th FIR filed against Nikant Jain, prime accused in Rs 8,000 crore solar commission scam
Nikant Jain, prime accused in solar commission scam LUCKNOW: Nikant Jain, the alleged middleman in the ₹8,000-crore solar commission scam and currently lodged in Lucknow district jail, is facing fresh legal trouble. The Wazirganj police have registered a new FIR against him for land grabbing, bank fraud, and issuing life threats—marking the fifth criminal case against him. Of these, three have been filed in Lucknow, and one each in Etah and Meerut. The latest FIR in Wazirganj has been lodged on the basis of a complaint filed by Hasanraza Abbasi, a resident of Hasanganj Bawli in the Talkatora area of Lucknow. Abbasi alleged that Jain, in connivance with others, tried to illegally take over his 6-biswa (approximately 8,166 sq ft) agricultural land in village Sarosa Bharosa, tehsil Sarojininagar. The land, registered under khasra number 1333Sa, was lawfully converted to residential status under Section 143 of the revenue code, according to Abbasi. In his complaint, Abbasi claimed that Jain and his associates executed a fraudulent property deal in 2017 by using a backdated cheque and then mortgaged the land to secure a ₹1.25 crore loan from Allahabad Bank's Hussain Ganj branch. The loan was reportedly taken in the name of a firm, SSJ Agrotech Pvt Ltd, using forged documents. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 4BHK+Family Lounge+Utility room at 4.49Cr (All Incl)* ATS Triumph, Gurgaon Book Now Undo The FIR further states that in the first week of March 2025, Jain allegedly intercepted Abbasi near the Lucknow civil court and issued death threats. According to the complaint, Jain demanded ₹25 lakh or asked Abbasi to vacate the land, warning that non-compliance would result in him being "eliminated by a contract killer or run over by a vehicle." Abbasi also alleged that Jain's aides assaulted him and hurled abuses. Fearing for his life, he refrained from filing a complaint earlier but has now submitted supporting documents and RTI responses to the police. The Wazirganj police have booked Jain, one AM Khan, and unidentified associates under Sections 308(5) (attempt to extort with threat to life) and 111 (organised crime) of the Bharatiya Nyaya Sanhita (BNS). A request has been submitted to the local court to summon Jain from Lucknow district jail for judicial remand in this case. This latest FIR comes just days after the Special Investigation Team (SIT) submitted a detailed chargesheet in the high-profile solar commission scam, in which Jain is the primary accused. The case, based on an FIR filed in January this year at Gomtinagar police station, involves alleged attempts to extract a 5% commission from Vishwajeet Dutta, a representative of SAEL Solar P6 Pvt Ltd, in exchange for fast-tracking approvals under the Invest UP initiative.
