Employee arrested, Nigeen police station investigating case
Srinagar: A fraud of nearly Rs one crore has surfaced in Jammu and Kashmir Bank’s Hazratbal branch here, Kashmir Reader has learnt.
Sources said that initial investigation has found that the amount ranges between Rs 70 lakh and Rs 1 crore, money that was allegedly stolen through fraud by an employee, Majid Banday.
“It can be less or more than that. Only further investigation will reveal the exact amount,” sources said. “But as of now the fraud is established.”
Kashmir Reader learnt that the Hazratbal branch has also filed a complaint at Nigeen police station against the employee. Sources said a case under Section 420 IPC has been registered and investigation taken up.
“He (Banday) has been arrested,” a police officer at Nigeen police station said.
As per the initial investigation, the amount is said to be pertaining to the account of Kashmir University. Sources said that the accused employee, who is holding charge of the Kashmir University fee counter at the Hazratbal branch, was found to be involved after a student’s request of fee refund was overturned.
It was found that the amount the student had deposited was not available in the varsity’s account, which led to the investigation in which the accused was found to be involved.
Before his arrest, Majid Banday told Kashmir Reader that the allegations levelled against him were untrue, but did not elaborate further.
JK Bank’s Communication Officer GN Teli was not available for his comments. The bank’s zonal head Rayees Maqbool said he cannot divulge details about it.
“The investigation will reveal the nature and extent of fraud,” Maqbool said.
Kashmir University Registrar Dr Nisar A Mir told Kashmir Reader that the case has not been brought to the notice of the varsity as of now.
However, informed sources told Kashmir Reader that the branch has verbally communicated to the varsity’s top brass and has sought a meeting with them. The meeting is likely to be held soon, the sources said.
KU sources said that the university has so far not found the money missing, as the reconciliation of available money in its accounts with the receipts is done periodically.