https://www.taxtmi.com/news?id=35313 Allegations concern misappropriation of cash from branch safes uncovered on regulatory inspection, showing discrepancies between ledgered cash balances and physical vault capacity and holdings. The EOW has arrested three individuals including former senior executives, summoned multiple audit firms that certified the bank's accounts for the 2019-2024 period, and may order a forensic audit to determine how ledgered cash was diverted. A criminal case under Criminal Breach of Trust and Criminal Conspiracy provisions has been registered and the banking regulator has superseded the lender's board and appointed an administrator. en-us Wed, 26 Feb 2025 08:46:02 +0530 Wed, 26 Feb 2025 08:46:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=35313 Allegations concern misappropriation of cash from branch safes uncovered on regulatory inspection, showing discrepancies between ledgered cash balances and physical vault capacity and holdings. The EOW has arrested three individuals including former senior executives, summoned multiple audit firms that certified the bank's accounts for the 2019-2024 period, and may order a forensic audit to determine how ledgered cash was diverted. A criminal case under Criminal Breach of Trust and Criminal Conspiracy provisions has been registered and the banking regulator has superseded the lender's board and appointed an administrator. News - Wed, 26 Feb 2025 08:46:02 +0530 https://www.taxtmi.com/news?id=35313