A trading firm in Punjab’s Ludhiana has alleged a financial fraud of approximately ₹9.7 million (₹97 lakh), accusing one of its employees and his associate of diverting customer cash payments instead of depositing them into the company’s accounts. According to the complaint, the accused allegedly created fake credit card transaction entries and fabricated credit card swipe slips to make the transactions appear legitimate. Police have registered a First Information Report (FIR) against a husband-and-wife duo under multiple provisions of the Bharatiya Nyaya Sanhita (BNS) and have launched an investigation.
According to police, the case was registered following an inquiry into Complaint No. PGD 696204, dated November 7, 2025. The complainant, Gurpreet Singh, a resident of Basant Avenue in Dugri, alleged that the accused executed a pre-planned scheme that caused significant financial losses to the firm over an extended period. Preliminary findings indicate that the alleged irregularities were not isolated incidents but part of a systematic effort to manipulate financial records and conceal the suspected misappropriation.
The complaint states that the accused worked at several company showrooms, including an outlet in Kochhar Market, where they handled customer sales. Whenever customers made cash payments for purchases, the money was allegedly retained instead of being deposited into the company’s accounts. Company records were subsequently altered to show that the payments had been received through credit card transactions, enabling the alleged diversion of funds to remain undetected.
Investigators allege that fake credit card swipe slips were prepared and daily sales reports maintained in Excel were manipulated by inserting fabricated transaction details. As a result, the company’s financial records allegedly appeared accurate and legitimate while the actual cash collections were siphoned off. The complainant has claimed that the firm suffered losses of nearly ₹9.7 million through this alleged scheme.
During the preliminary investigation, police found that the alleged fraud was carried out through a pre-planned conspiracy involving both accused. Following completion of the inquiry, police registered a case against Bhupinder Kumar, a resident of Kolri in Tehri district of Himachal Pradesh, and Gagandeep Kaur. Investigators are currently examining the roles of both accused, their financial transactions and the documentary evidence collected during the probe.
Police have booked the accused under Sections 318(4), 316(2), 344, 338, 336(3), 340 and 61(2) of the Bharatiya Nyaya Sanhita. As part of the investigation, officers are scrutinising bank records, sales data, digital documents, the alleged credit card transaction records, swipe slips and other financial documents to verify the extent of the suspected embezzlement and reconstruct the sequence of events.
Financial crime experts say regular reconciliation of cash and digital payments, independent audits, verification of point-of-sale (POS) transactions and periodic reviews of sales records are essential safeguards against such fraud. Weak internal controls and inadequate reconciliation processes can allow financial irregularities to remain undetected for extended periods, particularly in businesses handling high volumes of daily transactions.
The investigation remains ongoing. Police said further legal action will be taken based on the examination of financial records, banking transactions and digital evidence. If the probe uncovers the involvement of additional individuals, appropriate legal proceedings will be initiated. The allegations remain subject to verification during the investigation and subsequent judicial proceedings.
