Hyderabad: Following reports of alleged fraudulent activities at Axis Bank’s Begumpet branch in Hyderabad, the bank issued an official statement on Wednesday, December 11, dismissing the claims as “baseless.”
The bank stated that the transactions in question were carried out with the full knowledge of the complainant, Paritosh Upadhyay.
The statement further read that “Axis Bank in Hyderabad will continue to act in the best interest of its customers, and is extending full cooperation to the authorities to resolve the matter at the earliest.”
Emphasising that the bank reserves the right to pursue all legal remedies available under applicable law, the statement informed that the bank was consideration initiating proceedings against any false or defamatory claims against the bank or its officials.
Hyderabad bank officials accused of siphoning Rs 6.5 cr
The accused officials including former branch head Sridevi Raghu, senior partner Venkataramana Pasarla, service partner Surekha Saini, senior vice-president Hari Vijay, and others are allegedly facing charges such as cheating by impersonation, fraudulent misrepresentation, criminal breach of trust and forgery.
The complainant, Paritosh Upadhyay alleged that the officials forged his signatures on loose-leaf cheques to withdraw funds and executed unauthorized transfers from his account. Despite reporting the crime to Axis Bank’s management in Hyderabad, no corrective measures were taken.
The accused reportedly exploited their positions to access Upadhyay’s account.
The Hyderabad police have registered a case against the accused under multiple sections of the law, including charges related to fraud, forgery, and breach of trust.
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