Aligarh: A case involving suspicious financial transactions has surfaced in Atrauli, where ₹11.55 crore was deposited into a woman’s bank account over a period of nearly seven months. During an investigation based on a Suspicious Transaction Report (STR) flagged by the Ministry of Finance and the National Crime Records Bureau (NCRB), police alleged that a bank account was opened using a forged mandi licence and was subsequently used for high-value financial transactions.
Police have registered a case of cheating and other related offences against Shanno, wife of Shakeel, and further investigation is underway.
Atrauli Bank Account Records Flag ₹11.55 Crore Transactions
According to the investigation, ₹11.55 crore was deposited into the bank account of Shanno, a resident of Mohalla Kassawan, between June 5 and December 21, 2024.
Of this amount, ₹10.24 crore was transferred from her husband’s firm, Al Sana Traders, while around ₹1.08 crore was received from other firms. The scale of the transactions raised concerns after suspicious activity was identified in the banking records.
The transactions subsequently became part of an STR-based investigation into the account and the documents used to open it.
Suspicious Transaction Report Leads to Police Investigation
The case surfaced during an examination based on a Suspicious Transaction Report. Investigators are looking into the movement of funds through the account as well as the documents submitted during the account-opening process.
Police are examining the source and purpose of the funds and whether the transactions were supported by genuine business activity.
The investigation is also focused on the relationship between the account holder, her husband’s firm and the other businesses from which money was received.
Woman Claims Buffalo Trading Business Behind Transactions
During questioning, Shanno told police that she and her husband were involved in purchasing buffaloes and selling them to meat factories.
According to her statement, business proceeds were initially credited to her husband’s bank account and were later transferred to her account to improve their civil score.
However, police said discrepancies emerged during verification of the documents and mandi records associated with the account.
Mandi Licence Used in Bank KYC Documents Under Scrutiny
Police examined the Know Your Customer (KYC) documents submitted for the bank account and found a licence purportedly issued by Dhanipur Mandi.
The document showed an annual turnover of ₹49 lakh for the firm. The fact that transactions worth ₹11.55 crore had taken place in the account within just seven months became a key point of the investigation.
The substantial difference between the declared turnover and the money moving through the account has prompted investigators to examine whether the documents accurately represented the nature and scale of the business.
Dhanipur Mandi Records Show No Business Activity
Verification with the mandi administration raised further questions over the authenticity and use of the licence.
According to a written statement provided by the mandi secretary, no transactions had ever been recorded at the mandi against the licence. No shop had also been allotted in the name of the firm.
Based on these findings, police suspect that the mandi licence may have been used to present the banking transactions as legitimate business activity.
₹49 Lakh Declared Turnover vs ₹11.55 Crore Bank Transactions
The difference between the declared annual turnover of ₹49 lakh and the ₹11.55 crore deposited into the bank account within approximately seven months is now a major focus of the investigation.
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The STR-based examination also indicated that deposits were several times higher than the prescribed transaction limits.
Police said the investigation is not limited to the movement of money through the account. The authenticity of the mandi licence, the declared turnover of the firm and the substantial financial transactions recorded in the account are all being examined.
Police Trace Source and Destination of Suspicious Funds
Investigators are now trying to establish the actual source of the funds deposited into the account and determine the purpose behind transfers from different firms.
The alleged use of forged or incorrect documents and the complete money trail are also being examined.
Police are further investigating whether funds from the account were subsequently transferred to other bank accounts and, if so, who controlled those accounts.
Investigation Examines Possible Financial Irregularities
At the preliminary stage, police suspect that the matter may involve more than an attempt to improve a civil score.
The significant difference between the declared annual turnover and the value of transactions, coupled with the absence of business activity associated with the mandi licence, has become a major focus of the investigation.
Investigators are expected to examine the firms involved, the purpose of individual transactions and the documentation supporting the movement of funds.
FIR Registered as Financial Probe Continues
Police have registered a case of cheating and other related offences against Shanno, wife of Shakeel. The investigation remains ongoing.
Police said all financial and documentary aspects of the case are being examined. The exact source and destination of the funds, the role of the firms involved and the possible extent of the alleged financial irregularities will become clearer as the investigation progresses.
About the author — Ananya Aradhya writes on cybercrime, fraud, scams, cybersecurity, digital safety, and emerging threats. Her work also covers major criminal cases, financial frauds, consumer scams, and stories that highlight risks affecting people in the real and digital world.
