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The court was also appraised a departmental inquiry was initiated against the Police Officer who was investigating the case and the investigation was transferred to a senior police inspector
The Bombay High Court recently pulled up the Mumbai Police after a relationship manager of HDFC Bank siphoned Rs. 3 crores from the fixed deposit of a woman.
A division bench of the high court, comprising Justice Revati Mohite Dere and Justice PK Chavan was hearing a petition filed by 53 year Meenakshi Kapuria, who alleged that her relationship manager, Payal Kothari siphoned Rs. 3 crore from her FD and transferred it to different bank accounts and later transferred into her account.
She submitted that when the amount of Rs.3 crore was transferred by the accused into various accounts after breaking Fixed Deposits, “no sms alerts” nor “emails” were received. Further, she added that not only is the Relationship Manager involved in the case in question, but other bank officials were also involved.
It was argued that police are not investigating the case as is expected of them and that the main accused has not yet been arrested in the said case to date.
The bench was informed that Kothari took blank signed cheques from the petitioner by promising and assuring her, that her money would be transferred to Mutual Funds, Gold Bonds, NFO etc, and that she would earn more returns on the said investments, as compared to Fixed Deposits.
Further, it was alleged that instead of investigating the case, the police are attempting to put pressure on the petitioner to settle the matter with the accused.
The public prosecutor informed the bench that the police had frozen the bank accounts of the accused, however, the amount in the said accounts was not more than Rs. 30000.
The bench reprimanded the officials and questioned that it was not the bank’s responsibility to take note of the malpractice when the money was siphoned off under their noses. It added that people trust a particular bank then what faith they would have in a banking system when a relationship manager takes the person for a ride.
The bench informed on the next date that Kothari was arrested in the morning, to which the bank questioned as to why the arrest was made only after the petition was filed.
The court was also appraised a departmental inquiry was initiated against the Police Officer who was investigating the case and the investigation was transferred to a senior police inspector.
The bench proceeded to issue notice to RBI and HDFC Bank.
Case title: Meenakshi Rahul Kapuria vs State of Maharashtra & Anr
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