Karnataka   

Seized cash belonged to bank, says official

BELLARY: Udayshankar, manager of Axis Bank, Bellary branch, told The Hindu here on Tuesday that Rs. 10 crore in cash, which was seized by the police on Monday, was being brought to the bank from Kurnool.

Bellary police made the seizure as those transporting the cash in two vehicles did not have proper documents. Seven persons were taken into custody and three double barrel guns were seized from them.

Mr. Udayshankar admitted that the persons bringing the cash, all employees of the bank and one of them an executive, did not possess the remittance letter given by the currency chest of Andhra Bank in Andhra Pradesh and also their identity cards, which was the main reason for the police to make the seizure.

“The amount was being brought to the bank in Bellary as part of an inter-bank transfer. Our employees and one of the guards affixed their signatures at the currency chest for having received the cash and were returning with the cash,” he said and added that not possessing identity cards and the remittance letter was the mistake committed by them.

Meanwhile, the police counted the cash, which were in Rs. 500 and Rs. 100 denomination, and continued with the verification of the records/documents given by the bank. According to a senior police officer, the manner in which the cash was being transported had brought to light several loopholes in the functioning of private banks.

A detailed report had been sent to the Reserve Bank of India, he said.

On Monday, Arvind Srivastav, Deputy Commissioner, and Amrit Paul, Superintendent of Police, said that the two vehicles were subjected to a check at 5.30 p.m. when nine trunks were found. On inquiry, those in the vans, including an employee of Axis Bank, said that they were transporting cash from Kurnool to Bellary. There were no proper documents, they said. “There were too many loose ends giving room for suspicion,” Mr. Paul said and added that the manager of Axis Bank came to the police station claiming that the cash belonged to the bank.

The seven persons transporting the cash did not have identity cards and the security guards did not carry their gun licences. One vehicle had Bellary registration while another was registered in Andhra Pradesh, Mr. Paul said.

Mr. Paul said a case was being registered and the seven would be in custody till investigation was over.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Raid on offices, houses yields Rs. 40 crore
Woman found dead
Foolproof methods
Poll observers for Uttara Kannada
His life is a circus, so it is for his sons
Congress suffers setback as ex-MLA joins BJP
Congress workers oppose party candidate
Eshwarappa refutes charge of trading party ticket for money
For the right vote
How about a VCD player as well? Poll tales
Only Left can protect the poor: Yechury
Cut to size
Protest by jail inmates
Medical college files case against State
Ensure defeat of BJP candidates: CPI (M)
Was Subbaiah an MLA?
‘Mallige’ may soon spread its fragrance in the West
‘BJP will never say no to a Dalit becoming the Chief Minister’
Janapara Rajakiya Ranga throws its hat in the ring; to field 50 candidates
‘Competition has given us better products’
Calculations that went awry
Shiradi Ghat likely to be opened for heavy traffic soon
BJP’s environmentally clean campaign
A constituency that has mostly favoured women
Chandy blames police for violence
Campaign against farm land acquisition
Tokens for passports available online
Fish kill in Hassan tank
Seized cash belonged to bank, says official
Set-back to Congress in Mandya
A blog for an insured road
Strengthen people’s movement: CPI(M)
For the right to vote
Nine file papers
Conference
Experimenting with art
Leaders scout for new segments

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu