TaxTMI 
TaxTMI 
TaxTMI 
UP Police probe alleged Rs 2-crore banking fraud involving Delhi firm
X X X X Extracts X X X X
X X X X Extracts X X X X
....P Police probe alleged Rs 2-crore banking fraud involving Delhi firm<BR>FEMA / RBI<BR>Dated:- 22-10-2025<BR>PTI<BR>Mathura (UP), Oct 22 (PTI) Police in Mathura are investigating a case of alleged Rs 2 crore banking fraud involving the unauthorised opening and operation of a corporate current account in Agra, officials said on Wednesday. The Delhi-based company has written to the Reserve Bank of ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....India (RBI) seeking action against the bank concerned for inaction despite an FIR filed over three months ago, they said, adding that the FIR has been lodged in Mathura since some of the key accused have their permanent address here. According to police, the case pertains to the alleged fraudulent opening of a corporate account in the name of Shree Kaila Devi Real Estate Limited, a Delhi-based c....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ompany associated with the Rajdarbar Group, at Aryavart Bank's Avas Vikas branch in Agra on September 19, 2022, using forged documents. Circle Officer (Mathura City) Aashna Chaudhary said on Wednesday that the police have sought legal opinion from the joint director (prosecution) as provisions of the Companies Act are also applicable in the matter. "The investigation is in its final stage," sh....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e said. In a complaint submitted to the RBI, Bank of India and Aryavart Bank's grievance cells, a copy of which is with PTI, company representative Arun Gupta alleged that the account was opened without the knowledge or consent of the company's majority shareholders and directors. The company's majority ownership rests with Rakesh Kumar Garg (HUF) and Amita Garg, who together hold 60 per cent ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of the shares, while Dhirender Singh and Akhilesh Agarwal serve as nominated directors of the family. The company lodged an FIR at Kotwali police station in Mathura on July 3 under various provisions of the Bharatiya Nyaya Sanhita, including offences relating to cheating and forgery. The case names Director Kanti Prasad Agarwal and six others as accused. As per the complaint, Kanti Prasad alle....
X X X X Extracts X X X X
X X X X Extracts X X X X
....gedly misused his position and bank connections to open the account in violation of RBI's Know Your Customer (KYC) and account operation norms, and subsequently withdrew nearly Rs 2 crore from the account. The company claimed the fraudulent activity led to major financial losses, delayed statutory audits and caused disruption in its operations. "This is a criminal offence and immediate action ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....should be taken by the RBI, Bank of India, and Aryavart Bank," the complaint said. The firm, which has been in the real estate business for over two decades, is also engaged in multiple legal disputes with the same director accused of fraud. It has urged the RBI and the Bank of India to conduct an immediate probe into how the account was opened and to take strict action against those responsible....
X X X X Extracts X X X X
X X X X Extracts X X X X
...., including any bank officials found complicit. PTI COR KIS AMJ AMJ<BR> News - Press release - PIB....