The Classic Co-operative Bank Ltd.’s liquidator has filed a complaint against Siddhi Vinayak Traders, a customer at the Bank of Baroda’s Naroda Branch, alleging that the company prematurely cashed out fixed deposits totaling Rs. 2.08 crore using the liquidator’s fictitious signatures and letter pad. An FIR has been filed by Vejalpur police in this matter.
Two Fixed Deposits of the Classic Co-operative Bank Ltd. were deposited with the Bank of India’s Sarkhej branch, according to the FIR filed by Liquidator Sangeetaben. When the liquidator personally visited the Bank of India to ask about the Fixed Deposits, the alleged fraud was discovered. Premature withdrawals of both Fixed Deposits were made, and funds were transferred to the Siddhi Vinayak Traders’ account at the Bank of Baroda’s Naroda branch.