Police in Punjab’s Moga district have registered a case against three employees of Annapurna Finance Private Limited for allegedly misappropriating ₹11.70 lakh from the company’s Ajitwal branch. The accused have been booked after an internal inquiry and a preliminary investigation reportedly found evidence supporting allegations of document forgery and financial misconduct.

Internal Audit Reveals Suspicious Transactions

According to police officials, the complaint was filed by Pragat Singh, the company’s Area Manager, who oversees operations of eight branches, including the Ajitwal unit.

The alleged irregularities came to light during routine monitoring and verification of financial records. Following the detection of suspicious transactions, the company conducted an internal review to examine possible discrepancies in branch accounts.

The complaint alleged that employees posted at the Ajitwal branch — identified as Kuldeep Singh, Nachhattar Singh, and Robin — were involved in preparing false documents, creating inaccurate records, and manipulating financial entries.

Investigation Finds Prima Facie Evidence

Due to the seriousness of the allegations, the matter was referred to the Deputy Superintendent of Police (Special Crime) for further examination.

During the inquiry, investigators reviewed banking details, branch records, financial documents, and transaction-related evidence. The preliminary findings reportedly indicated that the allegations had sufficient basis for registration of a criminal case.

Following the inquiry report, Ajitwal Police registered an FIR against the three accused under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) related to cheating, forgery, criminal breach of trust, and other offences.

Police Examine Money Trail and Possible Involvement of Others

Authorities said the investigation is ongoing and teams are examining the movement of the allegedly diverted funds. Police are working to identify the accounts that may have received the money and determine whether additional individuals were involved.

Investigators are also analyzing digital transaction records, banking trails, and company documents to establish the complete nature of the alleged financial irregularities.

The probe will further examine whether gaps in internal controls or monitoring systems were exploited to carry out the suspected fraud. If evidence reveals the involvement of additional persons, further legal action may follow.

Experts Highlight Need for Stronger Internal Controls

Financial security experts have emphasized the importance of strict internal audit procedures, employee verification systems, transaction monitoring, and multi-level approval processes to prevent insider fraud in financial organizations.

They recommend that financial institutions adopt stronger safeguards, including separation of duties, regular independent audits, risk-based monitoring, and improved digital transaction oversight.

Such measures can help detect suspicious activities at an early stage, reduce financial losses, and improve transparency within organizations.

Meanwhile, Moga Police continue their investigation into the alleged embezzlement case, with further action expected based on the evidence collected.

Ludhiana: The Dehlon Police in Ludhiana have registered a criminal case against five senior officials of a Gurugram-based Japanese agricultural equipment company and its parent organization over allegations of intellectual property theft, cheating, and corporate fraud.

The case was filed after a Ludhiana-based agricultural machinery manufacturer accused the company of illegally obtaining proprietary machine designs and business information during a manufacturing partnership before allegedly using the data to establish a competing operation.

Partnership Allegedly Used to Access Confidential Information

According to the police complaint, Jagatsukh Industries Private Limited, based in Alamgir, Ludhiana, entered into discussions with the foreign company in 2022 for the manufacture of advanced self-propelled boom sprayers.

The complainant alleged that company representatives assured them they would not set up a separate manufacturing facility in India, leading the local firm to invest in production infrastructure and share technical data required for the collaboration.

Police said the complaint alleges that during factory visits, representatives of the partner company gained access to confidential engineering designs, manufacturing processes, technical drawings, supplier information, and other proprietary business records.

The partnership agreement was reportedly signed on May 24, 2023.

Allegations of Patent Misuse and Business Competition

Investigators claim the foreign company later established an Indian subsidiary despite earlier assurances and allegedly terminated the manufacturing agreement without prior notice.

The complainant further alleged that confidential designs obtained during the partnership were subsequently used to file patent applications in India and facilitate commercial production of similar agricultural machinery.

Police are also examining allegations that imported machinery components were brought into the country using concessional documentation intended for testing purposes before being sold commercially.

Five Company Officials Named

Based on the complaint and preliminary inquiry, Dehlon Police have booked five company officials, including Managing Director Munenori Ohta, Deputy Director Takayuki Saito, managers Harmeet Singh and Ritwique Das, and corporate official Toshio Kondo.

The accused have been booked under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act relating to cheating, theft, criminal breach of trust, and misuse of electronic information. The investigation remains at an early stage, and the allegations have not yet been tested in court.

Police officials stated that this is the second case registered against members of the same corporate group within a month. An earlier complaint involved the alleged failure to return four demonstration agricultural sprayers valued at more than ₹61.6 lakh.

Digital Evidence Under Examination

Investigators have launched a detailed forensic examination of emails, electronic records, server access logs, communication history, and patent filings to verify the allegations. Authorities are also reviewing customs and import documentation to determine whether any financial or tax-related violations were committed.

Officials said additional action will depend on the findings of the ongoing investigation.

Advisory for Manufacturing Companies

Industry experts have advised Indian manufacturers entering international business partnerships to strengthen safeguards for confidential information by implementing strict non-disclosure agreements, limiting access to sensitive technical data, and conducting regular intellectual property audits.

Businesses are also encouraged to verify patent registrations and maintain secure digital systems to reduce the risk of unauthorized use of proprietary designs and commercial information.

The investigation is continuing.

Chandigarh: A senior citizen couple from Chandigarh’s Sector 23-C has allegedly lost more than ₹2.26 lakh after falling victim to an online fraud in which scammers impersonated customer support executives from a well-known home services platform.

The Cyber Crime Police Station in Sector 17 has registered a case and initiated a technical investigation into the phishing operation. Authorities have already frozen one of the suspected beneficiary bank accounts while tracing the movement of the stolen money through multiple financial channels.

Fraud Began with Fake AC Service Call

According to the police complaint, Harish Chander Madan received an unsolicited phone call from a person claiming to represent Urban Company, a popular home services provider. The caller, who introduced himself as Amit Kumar, offered a discounted air-conditioner servicing package ahead of the summer season.

After gaining the couple’s confidence, the fraudster convinced them to complete what was described as a mandatory digital verification process for booking the service. During the process, the victims were asked to click on links and enter sensitive banking details, including authentication credentials.

Investigators believe the information was used to gain unauthorized access to multiple bank accounts.

Over ₹2.26 Lakh Withdrawn

Police said unauthorized transactions were carried out between May 11 and May 12. The fraudsters allegedly transferred ₹1,74,149 from two bank accounts belonging to Harish Chander Madan, maintained with Punjab National Bank and Bank of India.

An additional ₹52,414 was withdrawn from three separate bank accounts held by his wife, Madhu Madan, taking the total financial loss to ₹2,26,563.

The couple discovered the fraud after reviewing transaction alerts received on their mobile phones and immediately reported the incident through the national cybercrime helpline.

Police Freeze Suspect Bank Account

Cyber investigators tracked the flow of funds to multiple bank accounts reportedly linked to individuals identified as Sachin, Sajit Ahmed, and Akhtar Khan.

Officials confirmed that one UCO Bank account associated with the investigation has been frozen to prevent further withdrawal of funds. Investigators are now examining bank records, mobile phone numbers, IP addresses, and digital transaction logs to identify those behind the scam.

Case Registered Under BNS

A criminal case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS), including charges related to cheating, impersonation, and criminal conspiracy.

Police are also investigating whether the same fraud network has targeted other victims in Chandigarh or neighboring states using similar methods.

Cyber Police Issue Public Advisory

Following the incident, cybercrime officials have urged citizens, particularly senior citizens, to remain cautious when receiving unsolicited calls offering discounted home services or requesting online payments.

Authorities advised consumers to avoid sharing banking credentials, OTPs, PINs, passwords, or clicking on links sent by unknown callers. Genuine service providers generally process bookings and payments only through their official mobile applications or websites.

Anyone who suspects cyber fraud should immediately report the incident by calling the National Cyber Crime Helpline at 1930 or by filing a complaint through the official cybercrime reporting portal to improve the chances of recovering lost funds.

The investigation remains ongoing.