Swift action by J&K Crime Branch leads to refund of Rs 4.50 crore to defrauded depositors

Srinagar: Swift and timely action by the J&K Crime Branch's Economic Offences Wing (EOW) Kashmir on Tuesday led to the refund of Rs 4.50 crore to 13 bank depositors, an official statement said.

A statement by the Crime Branch Kashmir said that, as a result of the swift and time-bound investigation and prompt action taken by the WOW in the Shopian HDFC Bank irregularities case, the bank has refunded the amounts to 13 depositors who were affected by the alleged fraud, providing much-needed relief to the victims.

The total amount refunded to the 13 depositors is around Rs 4.50 crore. The matter pertains to FIR No. 30/2025, registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, following a complaint regarding financial irregularities at HDFC Bank, Shopian.

The case was subsequently transferred to Crime Branch J&K on the directions of Police Headquarters (PHQ) for detailed investigation. During the investigation, EOW Kashmir identified five principal accused, including former branch managers and employees of HDFC Bank posted at Shopian and Pulwama.

All five principal accused were arrested on February 18. Upon completion of the investigation, EOW Kashmir filed a charge sheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May.

The criminal proceedings are continuing before the competent court. EOW Kashmir remains committed to taking the case to its logical conclusion and ensuring that all accused are dealt with strictly in accordance with law, the statement said.

EOW is the specialised wing of the J&K Crime Branch that investigates high-profile economic offences. Such crimes need dedicated full-time teams of investigators with technological backup, as territorial police, engaged in maintenance of law and order, do not have teams of full-time investigators since their personnel have to work 24X7 while keeping an eye on anti-social and anti-national elements.

ABOUT THE AUTHOR

IANS

[email protected]