Timely check stops Rs 25 lakh cheque fraud

A Barakhamba Road-based company was close to being duped of Rs 25 lakh with the help of a tampered cheque.

Agarwal Metal Works had issued a computerised cheque of Rs 2,838, which was cashed. Later, the same cheque – now with an amount of Rs 25 lakh written out by hand – was presented for encashment, police said on Monday. The company has a cash credit account with Axis Bank’s corporate banking branch. Company official Satish Kumar Agarwal told police that the company had issued the cheque for Rs 2,838 in favour of Star Special Air Gases.

The cheque was presented in Axis Bank through HDFC Bank and  encashed. But soon, an Axis Bank manager made a call to inform that they had  received a handwritten cheque with the same serial number for Rs 25 lakh in the name of ‘Surinder Singh’.

After going through the company’s records, Satish told the bank that the cheque was never issued. The fabricated cheque was then stopped from being encashed. A case of cheating was filed. Police found that Surinder is an account holder of Central Bank of India’s Bengali Market branch.

No arrest has been made so far as the bank account was opened on the basis of fake papers.

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