Srinagar: HDFC Bank has refunded around ₹4.50 crore to 13 depositors affected by alleged financial irregularities at its Shopian branch in Jammu and Kashmir.
The refunds were made following an investigation by the Economic Offences Wing (EOW) Kashmir. According to the investigating agency, the swift and time-bound action provided financial relief to the affected depositors.
The case is linked to FIR No. 30/2025, which was registered under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act following a complaint regarding alleged financial irregularities at the bank’s Shopian branch. The investigation was later transferred to the Crime Branch J&K on the directions of Police Headquarters for a detailed probe.
During the investigation, the EOW identified five principal accused. They included former branch managers and employees who had been posted at bank branches in Shopian and Pulwama. According to the investigating agency, all five were arrested on February 18, 2026.
As the investigation progressed, a chargesheet was filed against a total of 11 accused persons. The EOW submitted the chargesheet before the Court of the Chief Judicial Magistrate, Shopian, in May 2026. Criminal proceedings in the case are continuing before the competent court.
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According to the investigating agency, the refund of money to the affected depositors was a significant development during the probe. Around ₹4.50 crore was returned to 13 depositors, providing relief to those who had allegedly suffered financial losses because of the irregularities.
The investigation agency said efforts were continuing to take the case to its logical conclusion. It also said that legal proceedings against all the accused would continue in accordance with the law, while the final determination of guilt would be made by the competent court.
The alleged role of former bank officials and employees remained a key focus of the investigation. Based on the facts and documents gathered during the probe, the agency filed a chargesheet against 11 persons. The allegations and evidence will now be examined through the ongoing judicial proceedings.
The EOW said it would continue its efforts to ensure relief for people affected by financial crimes and take appropriate legal action against those found responsible in accordance with the law.
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