Kotak Mahindra Branch Manager Held in Delhi for Laundering Money

On 23 December, two people were arrested for creating fake accounts in a branch of the bank in Delhi.

Kotak Mahindra bank branch is now under the Income Tax Department’s scanner. Image for representational purpose. (Photo Courtesy: Wikimedia Commons)

Days after a branch of Kotak Mahindra Bank in Delhi came under the Income Tax department’s lens, the Enforcement Directorate has arrested a branch manager of the bank in the capital. The manager was reportedly involved in laundering money.

On 23 December, the Delhi Police Crime Branch had arrested two people for creating fake accounts in Kotak Mahindra Bank’s Kasturba Gandhi Road branch with unaccounted deposits totalling Rs 34 crore.

As per agency reports, Kotak Mahindra Bank Manager Ashish Kumar got Rs 51 crore from one Rohit Tandon.

Tandon, during investigation, revealed that Kumar made drafts of Rs 38 crore on fictitious names which were later cancelled by the IT department. Kumar reportedly received Rs 13 crore for his work.

(With inputs from PTI)