Panchkula finance company employee booked for ₹1 lakh embezzlement

According to the complainant, the company received complaints from borrowers alleging that accused Ravi Kumar had collected loan amounts(EMIs) in cash between April and August 2024 but failed to deposit the money into the company’s loan accounts

The Chandimandir police have registered a case against a former employee of a finance company for allegedly embezzling over ₹1.07 lakh collected as loan amounts from poor women borrowers under group loan scheme.

An internal investigation revealed that accused Ravi allegedly misappropriated ₹1.07 lakh collected in cash and also received EMIs through UPI/online transfers into his personal bank accounts. (Representative File)

The complainant, Sushil Kumar, the branch manager of L T Finance Company in Barwala, Panchkula, said the accused Ravi Kumar, a former field staff member, appointed in July 2022, a Sangrur resident, was responsible for collecting monthly loan instalments from poor women customers.

The complaint was registered in February 24. According to the complainant, the company received complaints from borrowers alleging that Ravi Kumar had collected loan amounts(EMIs) in cash between April and August 2024 but failed to deposit the money into the company’s loan accounts. An internal investigation revealed that Ravi allegedly misappropriated ₹1.07 lakh collected in cash and also received EMIs through UPI/online transfers into his personal bank accounts, which he did not deposit despite repeated instructions.

The complainant further alleged that when company officials confronted Ravi Kumar, he became abusive and used offensive language and threatened them.

After investigation, FIR has been lodged under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhita (BNS), 2023.