Kolkata police arrested a businessman over an alleged ₹1.5 crore withdrawal from a company’s joint Bank of Baroda account. The complaint accuses him of using his brother’s forged signature to authorize the transactions.
Burrabazar police arrested the businessman on Wednesday night, The420 reported. He was expected to appear before Bankshall Court, where police may seek custody for further questioning.
Brothers Disputed Control Of Joint Account
The complainant and accused were both directors of SDB Developers Private Limited. Their company held a joint account at Bank of Baroda’s MG Road branch in Kolkata.
Transactions required both directors’ signatures. According to the complaint, an internal dispute led the complainant to stop signing company cheques and banking documents from July 2023.
The case concerns transactions allegedly carried out on November 21, 2023. The complainant said payments totaling around ₹1.5 crore nevertheless went through the joint account.
He claimed he had no knowledge of those payments. He also said he had not signed or approved related cheques, payment mandates or other banking documents.
Complainant Challenged Bank’s Handling Of Payments
After discovering the transactions, the complainant approached the MG Road branch. He requested an internal investigation into how payments had been processed without his approval.
He also sought an account freeze to prevent further unauthorized transactions. The complainant alleged bank officials did not provide the cooperation he expected.
The bank later showed him a cheque reportedly used to authorize payments to certain recipients. He alleged that the signature on that cheque was forged.
The complainant also suspected some bank officials had colluded with the accused. The420 said that allegation remained under investigation and had not been independently established.
Police Response Also Came Under Complaint
The complainant questioned how police handled the case before the arrest. He alleged their records had shown the accused as absconding for a long period.
He maintained the accused was present at his residence or office during that time. According to the report, he wrote to the state Chief Minister and Kolkata Police Commissioner about alleged delays.
The complainant also alleged the accused had political connections and considerable local influence. He believed those factors contributed to delayed action, but those allegations remain subject to investigation.
Investigators Examine Cheque And Bank Records
Following the arrest, police were examining the bank’s records and documents bearing the disputed signature. They were also reviewing the cheque and the accounts that received money.
Investigators were trying to establish whether anyone else processed or facilitated the disputed withdrawal. Their inquiry includes the transactions and the documentation allegedly used to authorize them.
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Further action will depend on the investigation and questioning after the accused appears in court. The report described the withdrawal and possible collusion as allegations awaiting investigation.
