collusion, misappropriated large sums of company funds by forging documents, manipulating accounts, and creating bogus vendor entries. They were responsible for depositing customer cash collections into the company’s Yes Bank account (Chattarpur branch), but instead dishonestly siphoned off a portion of the funds and covered it up with fake records. Mr. Gupta also tampered with bank statements, forged cheques, and misused intra-bank transfer features to route payments to his own account. An internal audit revealed multiple methods of embezzlement, including fake vendor accounts and forged payment vouchers. Approx. ₹3 crores have been misappropriated from the company and ₹3 lakhs from its sister concern, Tatva Hill Homes Pvt. Ltd., a resort in Uttarakhand. The fraud appears extensive, and the full scope—including involvement of other employees and possibly bank staff—can only be determined through a detailed police investigation. The accused have also removed key records from the company’s office. Despite repeated requests, Yes Bank has declined to provide necessary documents without police direction. An FIR was thus registered and action initiated to uncover the full extent of the fraud, identify all conspirators, recover misappropriated funds and bring the culprits to stand trial.
