Coins Worth ₹11 Crore Missing From SBI Branch: Rajasthan High Court Transfers Investigation To CBI

As per the reports, an FIR filed by the bank in August 2021 reported a discrepancy in the total value of coins deposited in the bank, and those that were found to be there in an audit conducted by the bank. It was further stated in the FIR that the vendor told the bank that while the audit was underway, one of his employees, who was involved in counting of coins, allegedly had his life threatened by a group of 10-15 armed men.

Notably, the State Bank of India, by way of a criminal writ petition, had approached the Rajasthan High Court seeking direction to the CBI to take over the investigation of the FIR filed in August last year at Police Station Todabhim. It also sought direction to the respondents to pursue the FIR for offence of threat given to the vendor.

Justice Narendra Singh Dhaddha, observed,

"I have considered the arguments advanced by learned counsel for the petitioner as well as learned counsel for the respondents. As per guidelines issued by CVC as well as RBI, matter pertains to fraud involving amount more than Rs.3 crore has to be investigated by ACB Branch of CBI. So, petition deserves to be allowed."

As per guidelines issued by CVC as well as RBI, cases of fraud involving amount more than Rs.3 crore where involvement of staff is, prima facie, evident in relation to public sector banks, has to be investigated by ACB of CBI, he added. So, the petitioner's counsel submitted that the present investigation be transferred to the ACB Branch of CBI for investigation.

The counsel appearing on behalf of CBI submitted that the agency has no objection for investigating the matter. So, the matter be handed over to CBI for investigation, he added.

Counsel for Petitioner(s) : Ms. Anita Aggarwal

Counsel for Respondent(s) : Mr. Ashwani Kumar Sharma, Spl. PP for CBI

Case Title: State Bank Of India v. State Of Rajasthan

Citation: 2022 LiveLaw (Raj) 141