The Central Bureau of Investigation (CBI) has registered a case against the branch manager, two officials of Axis Bank, Memnagar Branch in Ahmedabad along with nine other persons.
It is alleged that the officials of Axis Bank, Memnagar Branch had misused their official position and allowed unauthorised transactions to shell companies between November-December 2016.
The bank officials had allegedly violated the KYC (Know Your Customer) guidelines in aiding the transactions. They have also been booked under the Anti-Money Laundering Act.
It is believed that at least three groups of cash handlers deposited around Rs.100.57 crore in about 25 shell companies' accounts maintained with Axis Bank, Memnagar Branch.
The profiles of companies and the people depositing such huge amount of money were found to be non-commensurate with the deposits.
WHERE ARE THE PAY-IN SLIPS?
It was found that during the period of depositing and exchanging notes of old tender, lump sum deposits were made multiple times by same person in a day.
There is intel that cash deposit slips of Rs 13 crore are not available with the bank, which was then immediately transferred to accounts of bullion traders and jewelers through RTGS (Real Time Gross Settlement).
As per guidelines during demonetisation period, cash could be deposited either by the account holder or a representative duly authorised. But, in above cases, majority pay in slips have forged signatures.
Searches are now being conducted in Ahmedabad at 16 places, including office and residential premises of the accused persons.