SRINAGAR: HDFC Bank has refunded around Rs 4.50 crore to 13 depositors affected by alleged financial irregularities at its Shopian branch in Jammu and Kashmir, following investigation and action by the Economic Offences Wing (EOW) Kashmir of Crime Branch J&K.
The refund has provided relief to the affected depositors after the EOW carried out what it described as swift and time-bound action in the financial fraud case.
The case stems from FIR No. 30/2025, registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act following a complaint regarding alleged financial irregularities at HDFC Bank, Shopian.
Crime Branch J&K Takes Over Investigation
The case was subsequently transferred to the Crime Branch J&K on the directions of Police Headquarters, Jammu and Kashmir, for a detailed investigation into the alleged bank fraud and financial irregularities.
During the investigation, the Economic Offences Wing Kashmir identified five principal accused. They included former branch managers and employees of HDFC Bank who had been posted at its Shopian and Pulwama branches.
All five principal accused were arrested on February 18, 2026, as part of the investigation.
Chargesheet Filed Against 11 Accused
After completing its investigation, the EOW filed a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026.
The investigation focused on alleged financial irregularities involving depositors at the HDFC Bank Shopian branch.
With Rs 4.50 crore refunded to 13 depositors, the development marks significant relief for those affected while the criminal case continues before the competent court.
Criminal Proceedings Continue
Criminal proceedings in the Shopian bank fraud case are continuing before the competent court.
The EOW Kashmir said it remains committed to taking the investigation to its logical conclusion and ensuring that those found responsible are dealt with in accordance with the law.
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