Kolkata Businessman Pawan Bhimsaria Arrested For 1.5 Crore Bank Fraud; Read On

A Kolkata court sent businessman Pawan Bhimsaria to jail custody till October 5. Police arrested him for allegedly forging his brother Sanjay Bhimsaria's signature to siphon off Rs 1.5 crore from their company's joint bank account

A Kolkata court sent businessman Pawan Bhimsaria to jail custody for allegedly siphoning off around Rs 1.5 crore from a company joint account. Police produced him in court on Friday, and the judge remanded him to jail till October 5. He allegedly forged his brother Sanjay Bhimsaria's signature to withdraw the massive amount from a Kolkata-based company's bank account.

The whole issue started back in November 2023. Both Sanjay and Pawan are directors of 'SDB Developers Private Limited'. The company holds a joint account at the Bank of Baroda's MG Road branch in Kolkata. Any transaction from this account needs both their signatures. Sanjay filed a complaint saying someone moved around Rs 1.5 crore from the account through multiple transactions on November 21, 2023, without his permission. He clearly stated he never signed any cheque, mandate, or banking document. When bank officials later showed him a cheque, Sanjay realized someone had forged his signature. He immediately filed a police complaint at the Burrabazar police station.

People earlier alleged that police were delaying Pawan's arrest in this case. Finally, Burrabazar police arrested him. Cops took him into police custody first for questioning. During this time, the investigation team also raided the Amaya Resort in Howrah. Cops are now checking how these documents connect to the fraud case.

The investigation team is mainly trying to figure out how such a huge amount was transferred from a joint account. They want to find out who else helped Pawan and if any mastermind was working behind the scenes using the fake signature.