Four years after the demonetization, the CBI has registered a case against six people, including the executive manager of the Ghaziabad branch of Jammu and Kashmir Bank, for depositing Rs 12.84 crore in demonetized notes.
The accused include the firm's three proprietors and two other individuals. He deposited this amount in the bank in the closed notes and then transferred it to different accounts through net banking.
The CBI was reported in the sources in December last year, quoting sources. After which the Central Investigation Agency filed an FIR against Rahul Chaudhary and Dushyant Chaudhary. The two were running accounts in the Ghaziabad branch of Jammu and Kashmir Bank under the name of Divyanshi Sales Corporation and Shyama Trading Company. The CBI alleges that the two were using their relationship with the bank's executive manager Nectar Sabarwar to operate the accounts themselves instead of the firm's proprietors.
Not only this, they also combined phone numbers in bank accounts with Siva Trading's proprietor Pankaj Kumar, Vikas Rathi of Divyanshi Sales and Ghanshyam Patel of Shyama Trading so that the alert message of the transaction does not come. On 8 November 2016, when the government closed 1000 and 500 notes, the bank's manager, Sabarwar, allowed Rahul and Dushyant to deposit Rs 12.84 crore in cash in violation of the bank and RBI rules. After changing the mobile number, both of them transferred this money to different accounts through RTGS.