Ahmedabad: An accountant working with a construction company in Ahmedabad’s CTM area has allegedly defrauded his employer of ₹1.23 crore by misusing signed blank cheques entrusted to him for making company payments. According to the complaint, the accused allegedly filled in amounts on the cheques and transferred the money to different bank accounts over a period of more than a year.
The alleged fraud came to light during a company audit, when supporting documents for several payments recorded in the accounts could not be produced. Further scrutiny allegedly revealed that the funds had been transferred to bank accounts belonging to people who had no apparent connection with the company’s labour payments.
The company subsequently approached Khokhara Police and lodged a complaint against the accountant, alleging breach of trust and financial misconduct.
Accountant Had Access to Signed Blank Cheques
The complainant, builder Sharad Patel, a resident of Ghodasar, runs Mahadev Construction Private Limited and Om Infrastructure at Anmol Aangan Complex in the CTM area.
According to the complaint, Marmik Pandya, a resident of Maninagar, had been working as an accountant with the company for around 10 years. Because of his long association with the firm and the trust placed in him, Pandya had reportedly been given access to a signed blank cheque book for making various payments on behalf of the businesses.
The arrangement allegedly provided the accountant with access to company cheques that had already been signed and were intended for legitimate business expenses.
Alleged Fraud Continued for 16 Months
Police said the alleged irregularities occurred between August 2024 and November 2025. During this period, Pandya allegedly filled in amounts on the signed cheques and deposited them into multiple bank accounts.
The transactions were reportedly entered into the company’s Tally accounting system as labour-related payments. Because the entries appeared to correspond with routine business expenses, the alleged transfers did not immediately attract attention.
The matter surfaced during a recent audit. The company’s Chartered Accountant reportedly sought bills and other supporting documents for the labour payments recorded in the accounts. However, the relevant documents were allegedly not available in the company’s records.
This prompted a closer examination of the transactions and the bank accounts into which the payments had been made.
Funds Allegedly Routed to Unrelated Accounts
Further scrutiny allegedly showed that several payments recorded as labour charges had actually been transferred to accounts belonging to individuals who had no connection with the company’s labour-related activities.
The builder has alleged that Pandya misused the authority and trust given to him and diverted a total of ₹1.23 crore to accounts belonging to his associates or people known to him.
Investigators are now expected to examine the bank records, cheque details, accounting entries and beneficiary accounts to establish the complete flow of money. Police may also verify whether the recipients had any actual business or financial relationship with the construction firms.
Police Register Case, Investigation Underway
Based on the builder’s complaint, Khokhara Police have registered a case against Pandya and started an investigation into the alleged financial fraud and breach of trust.
Investigators are examining how many cheques were allegedly misused, the individual amounts transferred through them and the identities of the account holders who received the funds. The investigation will also determine whether the alleged transactions were carried out solely by the accountant or whether other people assisted him.
Police are likely to examine the company’s accounting records alongside bank statements to match the entries shown as labour expenses with the actual movement of money.
The alleged fraud also highlights the risks businesses can face when signed blank cheques are entrusted to employees without adequate financial controls. Long-term employee relationships and internal access can create opportunities for financial irregularities if transactions are not regularly reconciled.
For now, the allegations against the accountant remain under investigation. Police will determine the full extent of the alleged diversion and the role of other individuals, if any, on the basis of financial records, cheque trails and other evidence collected during the probe.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
