Hyderabad: An employee of a drone technology firm in Hyderabad was booked on Wednesday, June 3, booked for allegedly misappropriating funds worth Rs 13.3 lakh.
The complainant, P Durga Sitaram, approached the Jubilee Hills Police and stated that the firm had noticed the misappropriation at its Research and Development facility in Jubilee Hills.
An internal investigation identified discrepancies in the procurement transactions processed by P Jeevan, Assistant Manager (Procurement and Compliance).
The complainant alleged that supplier invoices were manipulated by destroying a physical invoice that showed the original product value of Rs 2,950 and uploading another invoice for the same goods showing a value of Rs 3.2 lakh in the procurement system.
An audit also revealed that the funds were diverted to some fake entities, which later transferred the amount to the accused’s account.
The audit also reportedly uncovered multiple transactions routed through a suspected fictitious entity into the personal savings account of the accused.
“The amounts are based on the preliminary findings. The company suspects a potential exposure of up to Rs 13.3 lakh, subject to completion of forensic verification and confirmation of bank payment records,” the complainant alleged.
Based on the complaint, Jubilee Hills police registered a case under Sections 316(4) (criminal breach of trust by clerk or servant) and 318(2) (cheating) of the Bharatiya Nyaya Sanhita (BNS).
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