The SBI branch in Rajasthan’s Karauli had hired a local agency to count coins worth Rs 13 crore in its vaults. However, after finishing nearly 80 per cent of the bags they realised the rest couldn’t have held Rs 11 crore worth of coins
Representational image.
After the State Bank of India (SBI) branch in Mehandipur Balaji in Rajasthan approached the High Court, the CBI has now taken over the investigation in the case of missing coins worth Rs 11 crore from the vaults of the bank.
The CBI has registered an FIR on 13 April, in the seven-month old coin fraud case, which includes charges under sections 120 B (criminal conspiracy), 409 (criminal breach of trust) and 420 (cheating) of the Indian Penal Code.
What is the coin fraud case?
In July 2021, the SBI branch decided to carry out counting of money after a preliminary enquiry indicated discrepancy in the cash reserve at the bank.
The SBI hired a local agency, Arpit Goods Carrier, to count coins in its vaults worth Rs 13,01,71,275. The counting started on 22 July 2021, under the supervision of branch manager Hargovind Meena.
In an initial FIR filed at Todabhim police station in Karauli on 16 August, 2021, the SBI said that by then the agency had counted coins worth Rs 1,39,60,000 in 2,350 bags.
Even before the counting could be completed, the agency suspected a discrepancy between the value of coins that were said to have been deposited at the bank, and the amount held by it at the time.
After completing 2,350 bags, the agency employees realised the remaining 600-700 bags couldn’t have held coins worth Rs 60 lakh, indicating a shortfall of about Rs 11 crore.
Twist in the tale
The FIR also mentions that the owner of Arpit Goods Carrier, Satish Sharma, told the bank that while the audit was underway, one of his employees was threatened by a group of 10-15 men.
The incident occurred when the employee, who wasn’t a resident of Mehandipur, was returning to the hotel where he was staying.
The employee alleged that he was stopped by the group of men on 10 August, 2021 who gave him life threats and told to stop the counting.
It was after this incident was brought to light that the SBI lodged the FIR.
The CBI FIR mentions that to check the authenticity of the alleged threats, a detailed examination of the CCTV footage in the area will be conducted, The Print reported.
With inputs from agencies
Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.