According to investigators, the alleged financial irregularities occurred between March 19, 2023, and May 31, 2024, when the accused was posted as branch manager. Authorities said the misappropriation was carried out in installments and went undetected until an internal audit flagged discrepancies in company records after the employee left the post.
Police said the complaint was lodged after auditors identified suspected manipulation of financial entries linked to branch transactions. Based on the findings, a preliminary inquiry was conducted before an FIR was registered. Investigators are now examining account statements, transaction trails, and internal authorization logs to determine the method used and whether any additional staff were involved.
Station in-charge Avinash Singh confirmed that a case has been filed under relevant sections related to criminal breach of trust and financial fraud. “We have initiated a detailed investigation. Documentary evidence is being verified and statements will be recorded,” he said, adding that further legal action will depend on findings gathered during the probe.
Officials noted that the alleged embezzlement came to light nearly three years after the earliest suspected transactions, highlighting gaps in monitoring and reconciliation procedures. Financial crime analysts say delayed detection in such cases often results from weak internal audit frequency or reliance on manual verification systems.
The company has not publicly disclosed whether it plans to pursue civil recovery proceedings alongside the criminal complaint. However, legal experts state that firms typically initiate parallel recovery actions once liability is established through forensic accounting.
Authorities emphasized that the investigation remains ongoing and no final conclusions have yet been drawn regarding the full extent of financial loss or possible accomplices. Police indicated that additional charges may be added if further irregularities surface during document scrutiny.
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