Rewa | December 1, 2025: A major financial fraud has come to light at Shreeji Company in Rewa, where a long-serving accounts employee, Atul Pathak, allegedly siphoned off ₹7.11 crore over a period of seven years. The fraud, meticulously executed between 2018 and 2025, involved multiple layers of accounting manipulation and the diversion of company funds into personal and family accounts.
Audit and Police Investigation Reveal Modus Operandi
According to the company’s internal audit and police investigation, Atul diverted ₹4.95 crore from company accounts into personal accounts and those of his family members. Among these, ₹36.59 lakh was transferred to the account of his wife Nisha Pathak, while several lakhs were routed into accounts of Kashi Prasad Pathak, Mamta Pathak, and Sagar Tiwari.
In addition, ₹1.30 crore collected from company clients and ₹1.21 crore received from approximately ten home-buying clients were deposited directly into Atul’s personal account instead of company accounts. While initially appearing as minor discrepancies, these transactions cumulatively led to a multi-crore financial loss.
Fraud Exposed in June 2025
The fraud came to light after a staff reshuffle at the company’s Bhopal office, which included Atul’s transfer. His replacement in the Rewa office noticed irregularities in the financial documents, prompting a full audit. The audit revealed crores of rupees in discrepancies, after which the company filed an official complaint with the police.
Use of Misappropriated Funds
Police investigations revealed that Atul Pathak had invested the misappropriated funds in multiple assets:
- Purchased several plots in Rewa, Satna, and Katni
- Constructed a house in Katni in the name of his wife, Mamta Pathak
- Continued construction on another plot
- Invested substantial sums in gold, gold bonds, and fixed deposits (FDs)
- Opened additional FDs in his wife’s name
Case Registered, Investigation Ongoing
The Vishwavidyalaya Police Station has registered a case against Atul Pathak, his wife Nisha Pathak, Kashi Prasad Pathak, Mamta Pathak, and Sagar Tiwari under financial fraud and economic offenses. Authorities have confirmed that financial audits and asset verification are ongoing. Technical and banking investigations are underway to trace the diverted funds and identify all properties and investments made using the embezzled money.
Experts observing the case have pointed out that this fraud highlights significant lapses in internal controls and audit processes within the company. Long-term manipulation of financial records resulted in a substantial monetary loss and exposed vulnerabilities in supervision and financial monitoring systems.
Authorities have also emphasized that stricter internal audit protocols, regular oversight, and transparent accounting practices are essential to prevent such fraudulent activities in the future. The Rewa case serves as a cautionary tale for organizations to strengthen governance frameworks and closely monitor employees in positions of financial responsibility.
