Man tries to deposit fake Rs 55 crore cheque in Hyderabad bank; police register case

Bank officials in Hyderabad's Somajiguda foiled an attempt by a Uttar Pradesh man, Jagat Singh, to deposit a fake Rs.55-crore cheque belonging to Micro Labs Ltd. A case was registered after forged signatures triggered an investigation by Punjagutta police

Hyderabad: A man allegedly attempted to fraudulently deposit a fake cheque worth Rs 55 crore in his bank account at Somajiguda in Punjagutta.

The fraud came to light after bank officials found that the signatures on the cheque, purportedly issued by Micro Labs Ltd., did not match the authorised specimen.

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On verification, the company’s Legal Associate Vice-President, Ashok Kumar, informed the bank that no such cheque had been issued and subsequently lodged a complaint with the Punjagutta police.

During the investigation, police found that the suspect, Jagat Singh, a native of Uttar Pradesh, had allegedly obtained cancelled cheque leaves belonging to the company and forged signatures in an attempt to credit the money into his account.

A case was booked and being investigated.