EOW Kashmir refunds Rs. 4.50 crore to 13 HDFC bank depositors in Shopian fraud case

STC NEWS DESK
SRINAGAR, SEPTEMBER 15 (STC): Economic Offences Wing (EOW) Kashmir has secured refunds amounting to nearly Rs. 4.50 crore for 13 affected depositors at HDFC Bank’s Shopian branch, officials said here today.
The refund follows a swift, focused and time-bound investigation by the EOW Kashmir wing of the Crime Branch, J&K, into allegations of financial misconduct at the branch, they said.
The case was registered as FIR No. 30/2025 under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, based on a complaint alleging financial irregularities at the HDFC Bank branch in Shopian.
Following directions from the Police Headquarters (PHQ), J&K, the probe was transferred to the Crime Branch, J&K, for an in-depth investigation, and the matter was taken up by the EOW Kashmir.
“During the course of investigation, EOW Kashmir identified five principal accused, including former branch managers and employees of HDFC Bank who had been posted at Shopian and Pulwama,” an official said.
All five principal accused were arrested on February 18, 2026, as the investigation progressed, the official added.
After completing the investigation and collecting the requisite evidence, the EOW Kashmir presented a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026. The criminal proceedings in the case are currently pending before the competent court.
“The refund of nearly ?4.50 crore to 13 depositors marks a significant outcome of the investigation, while the criminal case will continue through the judicial process,” the official said.

(Straight Talk Communications)