UP’s 1st property confiscation under Section 107 of BNSS in Etawah: Police
The police on Wednesday seized a hotel worth ₹12 crore, allegedly built with money obtained through a bank embezzlement scam.
The police on Wednesday seized a hotel worth ₹12 crore, allegedly built with money obtained through a bank embezzlement scam.
This was the first property confiscation in Uttar Pradesh under Section 107 of the Bharatiya Nagarik Suraksha Sanhita (BNSS), said Etawah senior superintendent of police Sanjay Verma. Section 107 of BNSS pertains to attachment and forfeiture of property categorized as proceeds of crime.
The hotel Royal Galaxy, was constructed by Akhilesh Chaturvedi, the branch manager of district cooperative bank, Etawah.
Chaturvedi was accused of embezzling ₹24.18 crore from the bank by transferring funds to the accounts of his family members. The money was allegedly taken from fake loan accounts and various bank accounts he controlled.
Investigation revealed that the embezzled money was used to build Royal Galaxy, currently valued at ₹12 crore.
This was the first case in the state as well when the police invoked Section 107 of BNSS on the instructions of additional director general of police (Kanpur zone) Alok Singh after the money trail was established.
The police presented the case for property seizure before the chief judicial magistrate. Following a court order, the police seized the hotel.
The case began in July 2024 when an FIR was registered against Chaturvedi and nine others. So far, eight accused have been arrested, and seven more have been identified. A special audit of the bank has also uncovered additional irregularities, with the total value of the scam estimated at ₹102.52 crore.