The Economic Offences Wing (EOW) of Nagpur police has launched an investigation into allegations of financial misconduct involving senior officials of HDFC Bank, including its Managing Director and CEO, Sashidhar Jagdishan. The probe centers on claims that approximately ₹6 crore was siphoned off from the account of Narendra Singru, a trader based in Nagpur.
According to a complaint filed by Singru’s lawyer, Ashutosh Ranjan, the Dhantoli branch of HDFC Bank had accepted a ₹6 crore bond from Singru nearly three years ago and invested the funds in overseas entities, including firms based in Bahrain. The complaint asserts that the bank failed to disclose the associated risks of these investments and ultimately depleted the account balance to zero without informing Singru.
Ranjan described the incident as a deliberate financial fraud, alleging the bank intentionally drained the funds without warning the account holder about the risks involved. He has called for stringent action against those responsible within the bank to ensure accountability and justice.
