Mahasamund, Chhattisgarh | Police in Chhattisgarh’s Mahasamund district have arrested two more accused in a major financial embezzlement case involving India Financial Inclusion Limited (Bharat Financial Inclusion Ltd.), a subsidiary of IndusInd Bank. The accused had allegedly siphoned off more than ₹22.66 lakh (approximately $26,000 USD) collected from customers and remained on the run for nearly a year.
According to officials, the case was registered at Saraipali Police Station under Crime No. 341/2025 and investigated under Sections 316(5) and 3(5) of the Bharatiya Nyaya Sanhita (BNS).
The complaint was filed on December 22, 2025, by Hemendra Rajaram Janbandhu, Regional Manager of Bharat Financial Inclusion Limited. During an internal audit and review of customer transactions, the company allegedly discovered that several branch officials had collected loan repayments from customers but failed to deposit the money into the company’s bank accounts.
Investigators found that four employees, including branch, field, and credit managers, were allegedly involved in the embezzlement. The accused reportedly misappropriated funds collected from numerous beneficiaries over different periods.
According to police records:
- Shubham Panigrahi, Branch Manager, allegedly embezzled ₹5,35,869 collected from 16 customers between December 13 and December 23, 2024.
- Deepak Kumar, Field Manager, allegedly misappropriated ₹1,58,961 collected from 16 customers between June 13 and November 8, 2023.
- Rohan Pradhan, Field Manager, allegedly diverted ₹5,54,583 collected from 55 customers between February 27, 2022, and November 24, 2023.
- Pramod Mahant, Credit Manager, allegedly embezzled ₹10,17,232 collected from 16 customers between January 4 and August 13, 2024.
The total alleged embezzlement amounted to ₹22,66,645.
Following the registration of the case, police launched an extensive search operation. Investigators analyzed Call Detail Records (CDR), tracked technical evidence, and acted on intelligence gathered from informants. Based on these efforts, police successfully arrested Rohan Pradhan (24), a resident of Jhagrendih, Pithora, and Pramod Mahant (34), a resident of Pusalda, Chhal, Raigarh district, on June 8, 2026.
Both accused were produced before a court and subsequently sent to judicial custody.
Police officials confirmed that this is the third arrest in the case. Earlier, on March 14, 2026, investigators had arrested Shubham Panigrahi (30), a resident of Singhoda, Mahasamund district.
Authorities stated that the investigation remains ongoing and efforts are continuing to recover the allegedly embezzled funds and determine whether additional individuals were involved in the fraud.
The case highlights growing concerns over financial misconduct, internal control failures, and the misuse of customer funds within financial institutions, prompting calls for stronger monitoring and accountability mechanisms.
