Swift Investigation in Shopian Bank Irregularities Case Leads to Recovery and Refund of Depositors’ Funds
SRINAGAR, SEPTEMBER 15 :
In a significant development in the alleged financial irregularities case involving HDFC Bank’s Shopian branch, the Economic Offences Wing (EOW) Kashmir of Crime Branch J&K has secured refunds amounting to nearly ₹4.50 crore for 13 affected bank depositors.
The refund follows a swift, focused and time-bound investigation by EOW Kashmir into allegations of financial misconduct at the HDFC Bank branch, providing substantial financial relief to the depositors who had suffered losses.
The case was registered as FIR No. 30/2025 under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act on the basis of a complaint concerning alleged financial irregularities at HDFC Bank, Shopian.
Following directions from Police Headquarters (PHQ), J&K, the investigation was subsequently transferred to the Crime Branch J&K for an in-depth probe. The matter was taken up by the Economic Offences Wing (EOW) Kashmir.
During the course of investigation, EOW Kashmir identified five principal accused, including former branch managers and employees of HDFC Bank who had been posted at Shopian and Pulwama.
All five principal accused were arrested on February 18, 2026, as the investigation progressed.
After completing the investigation and collecting the requisite evidence, EOW Kashmir presented a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026.
The criminal proceedings in the case are currently pending before the competent court.
The refund of nearly ₹4.50 crore to 13 depositors marks a significant outcome of the investigation, while the criminal case will continue through the judicial process.
EOW Kashmir has reiterated its commitment to pursuing the matter to its logical conclusion, safeguarding the interests of affected victims and ensuring that those found responsible are dealt with strictly in accordance with law.(KNC)