MP High Court Seeks Replies In Petition Alleging ₹1 Crore Irregularity At Punjab National Bank Currency Chest

The Madhya Pradesh High Court has sought responses from authorities in a petition filed by a suspended Punjab National Bank officer alleging that nearly ₹1 crore is unaccounted for in the Currency Chest of the bank's Mandsaur branch and seeking an independent investigation into the matter.

Justice Sandeep N. Bhatt, hearing the matter at the Indore Bench, granted time to the respondents to file their replies. The Court recorded that counsel appearing for the Central Bureau of Investigation sought time to respond, while counsel representing Punjab National Bank authorities requested time to place their vakalatnama on record. The Court directed the respondents to file their replies within three weeks and listed the matter immediately thereafter.

The petition has been filed by Anuj Sharma, a bank officer presently under suspension, who claims that while functioning as Branch Manager and Joint Custodian of the Currency Chest at Punjab National Bank's Mandsaur branch, he detected serious discrepancies in records relating to cash maintained in the chest. According to the plea, the discrepancies point towards an apparent shortage of approximately ₹1 crore and possible manipulation of official records.

The petitioner has alleged that mismatches were found between Bin Cards, Bin Registers and Daily Currency Chest Reports maintained for the chest. The petition states that the discrepancies were linked to a bin containing ₹500 denomination notes and that inconsistencies in the records continued over several months. According to the chronology placed before the Court, the irregularities were first reflected in records from January 2025 and continued thereafter.

Sharma claims that after taking charge of the Currency Chest and scrutinising the records, he reported the matter to senior officials of Punjab National Bank and sought a detailed investigation. The plea states that a written communication highlighting the discrepancy was submitted to the bank's Circle Head at Ujjain in May 2026.

The petition further alleges that during scrutiny of records, material suggesting manipulation of Currency Chest documents came to light. It also refers to the existence of a handwritten diary allegedly maintained by another official and claims that documentary material, including Bin Cards, Bin Register extracts and Daily Currency Chest Reports, supported the existence of discrepancies.

A significant aspect of the case is the petitioner's contention that instead of initiating an independent inquiry, authorities proceeded against him. The petition states that he was placed under suspension despite being the officer who first detected and reported the discrepancy. He has approached the Court claiming protection as a whistleblower and alleging apprehension of retaliatory action.

Seeking intervention from the High Court, Sharma has prayed for an independent investigation by the Central Bureau of Investigation or any other impartial agency. The petition argues that the issue is not a private service dispute but concerns public money held in a Currency Chest operating within the country's banking and currency management framework.

The plea states that representations were submitted to the Director of the Central Bureau of Investigation, the Superintendent of Police, Mandsaur, and other authorities, but no effective independent investigation has been initiated so far. It further expresses concern that crucial evidence, including records, electronic material, audit documents and CCTV footage, may be altered, overwritten or destroyed if timely steps are not taken.

In the petition, Sharma has contended that the disappearance of funds from a Currency Chest of a nationalised bank raises serious concerns regarding preservation of public records, accountability and public confidence in the banking system. The plea states, "The issue involved in the present petition is not a private service dispute but concerns disappearance of approximately Rs.1,00,00,000/- from a Currency Chest of a nationalized bank, preservation of public records, protection of evidence and maintenance of public confidence in the banking system."

Advocate Yamak Sharma appeared for the petitioner, while Government Advocate Arpan Jain represented the State before the Court. The matter is now expected to be taken up after the respondents place their replies on record.

Case Title: Anuj Sharma v. Union of India and others

Date of Order: June 24, 2026

Bench: Justice Sandeep N. Bhatt