Staff cheat ’Castech’ ’SBI’ of Rs 4.13 cr

Staff cheat ’Castech’ ’SBI’ of Rs 4.13 cr

Mangalore Today News Network

Mangaluru, July 18, 2015  : As per reports, Staff of a Mumbai-based company, "Castech", which had the contract to load cash into State Bank of India ATMs in the city, have misappropriated around Rs 4.13 crore in the last two-and-a-half years.

The officials of the company, had the responsibility to load cash into 48 SBI ATMs in the city, have filed a complaint against its staff at Pandeshwar police station. Police have registered a complaint against Castech Mangaluru office manager Pradeep and 17 others and are investigating the matter.   The SBI had decided to end the contract with Castech in November 2012 and had asked the company to account for the money. .

Area manager Pradeep had produced documents of 29 ATMs and failed furnish any accounts related to 19 other ATMs. As the officials grew suspicious, Castech officials conducted an audit and found a shortage of Rs 4,13,57,500 from those 19 ATMs.

The bank has not suffered loss as it took certain amount from the agency as deposit before giving the contract. Castech officials have filed a complaint and First Information Report (FIR) has been filed against 18 people. Investigation is under progress according to  police officials.

During the investigation, it is found that Castech workers used to draw money from SBI account everyday to load 43 ATMs.  Many times they drew up to Rs 10 lakh, but they loaded only Rs 9 lakh and shared the remaining amount among themselves. Out of 18 accused, four have already managed to get anticipatory bail from the court and few have applied for the bail. Investigation is going on about possible involvement of bank officials.