Police in Mathura are actively investigating a case of alleged banking fraud totaling ₹2 crore. The fraud centers around the unauthorized opening and operation of a corporate current account in Agra.
The Delhi-based company at the heart of the allegations has formally alerted the Reserve Bank of India (RBI), requesting action against the bank involved. This comes despite an FIR being filed over three months ago. The FIR was registered in Mathura as some of the primary accused reside there permanently.
According to the police, the investigation focuses on the fraudulent creation of a corporate account for Shree Kaila Devi Real Estate Limited, a company linked to the Rajdarbar Group. The account was reportedly opened at Aryavart Bank’s Avas Vikas branch in Agra on September 19, 2022, using forged documents.
Circle Officer Aashna Chaudhary confirmed that the police are seeking legal counsel, as provisions of the Companies Act are relevant to the case. She stated that the investigation is nearing its conclusion.
In a complaint lodged with the RBI, Bank of India, and Aryavart Bank’s grievance cells, the company’s representative, Arun Gupta, alleged that the account was opened without the knowledge or consent of the majority shareholders and directors. The company’s majority ownership is held by Rakesh Kumar Garg and Amita Garg, with Dhirender Singh and Akhilesh Agarwal serving as nominated directors.
An FIR was filed at the Kotwali police station in Mathura on July 3, citing various sections of the Bharatiya Nyaya Sanhita, including cheating and forgery. Director Kanti Prasad Agarwal and six others have been named as accused.
The complaint details how Kanti Prasad allegedly exploited his position and bank connections to open the account, disregarding RBI’s Know Your Customer (KYC) norms and account operation guidelines. It is alleged that approximately ₹2 crore was subsequently withdrawn from this account.
The company asserts that these fraudulent activities have resulted in substantial financial losses, delayed audits, and significant operational disruptions.
The company’s complaint emphasizes that this constitutes a criminal offense and calls for immediate action from the RBI, Bank of India, and Aryavart Bank.
The real estate firm, with over two decades of experience, is also involved in ongoing legal disputes with the same director implicated in the fraud. They are urging the RBI and Bank of India to conduct a thorough investigation into the account’s opening and to penalize all responsible parties, including any complicit bank officials.
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