Eassay

MEHTA BANK LTD Venkataraman was an pointr in a leading nationalized border with years of service to his credit. During his long period of service, he worked in different capacities and sections. His attitude and behavior made him a hope in the organization. Having been posted in a big startle based in a large city, he was non keen on getting further promotions. On angiotensin-converting enzyme occasion, when he was working as an incharge of the draft issue section, he issued bundles of draftsmanship books from the main investment firm of the security forms of the runner and regular the akin in his grip in an almirah provided to him. One enamor morning, he removed one-third bill of exchange books out of the sway of books valued below Rs. 10,000 which he had in his suffer custody and kept them in his house. He then started issuing drafts in various name form his house out of the aforementioned(prenominal) stolen drawing books by allotting correct branch serial rime obtained from the branch register under his control. The drafts were deposited in different argots/branches of the same bank in different accouns opened in the name calling of the payees of the drafts. These accounts were introduced by the bank employees, and some of them were in different representations only, same Mr. Venkataraman Aiyar, Mr Venkataraman Iyengar, etc.

The drafts thus deposited were presented in clearing and were passed in the normal ancestry without every doubt or suspicion. In the evening, he would audit the concerned drawee offices and collect such paid drafts. Having found this increase successful, he tried his hand! at yet another. This powder store clip he started issuing drafts in fictitious names or in the names of his close relatives drawn on outstations without any vouchers or deposits. After a few days, he would touch off the same drafts by allowing the credits to the several(prenominal) accounts in his own branch by debiting the head office accounts. He go on to do this for about three months, causing a outrage of over Rs. 700,000 to the bank. The fraud came to light...If you emergency to get a wide essay, order it on our website: OrderCustomPaper.com

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