The company also stated that 108 loan accounts were created in the name of the branch manager’s brother, of which four were active, involving Rs 18.96 lakh. — DC Image

HYDERABAD: The Cyberabad economic offences wing (EOW) police re-registered a case against a former branch manager of an NBFC at KPHB Phase VI, following a complaint by the company alleging financial irregularities, manipulation of loan accounts and unauthorised handling of pledged gold.

According to the complaint, the branch manager had been in charge of day-to-day operations, customer transactions, pledged gold and branch records for about five years. The company earlier initiated an internal audit after a separate FIR was registered at KPHB police station on July 11 based on customer complaints.

The complaint alleged that the branch manager processed loan-takeover transactions totalling about Rs 45 lakh bypassing prescribed procedures. Although the loans were shown as takeover of gold loans from other institutions, the company’s preliminary verification allegedly found that the gold pledges were not created in its records.

The company also stated that 108 loan accounts were created in the name of the branch manager’s brother, of which four were active, involving     Rs 18.96 lakh. The complaint further stated that customers paid amounts under the Swarna Varsham scheme to the manager’s personal account through PhonePe and received receipts that did not match company records.

The company also referred to CCTV footage in its complaint, alleging that the manager removed ornaments from customer gold-loan packets without authorisation.

In another incident mentioned in the complaint, a customer and her husband took away a 285-gram necklace after the branch manager opened their pledged-gold without following the release procedure. The allegations are being investigated and police are examining the transactions, records, CCTV footage and other material to establish the facts.

Tags: