Overview
- The Chief Judicial Magistrate in Shopian rejected bail applications for five HDFC Bank employees accused in a large-scale financial fraud case.
- Additional Public Prosecutor Waseem Ahmad Shah opposed the pleas on behalf of the Economic Offences Wing Kashmir before the court.
- The accused—Adil Ayoub Ganai, Irfan Majeed Zargar, Mubashir Hussain Sheikh, Zaid Manzoor, and Javaid Ahmad Bhat—were arrested during the investigation and remain in judicial custody at Central Jail Srinagar.
- The case is booked under BNS Sections 316(5), 318(4), 336(3), 340(2), and 61(2), along with Section 66(C) of the Information Technology Act, at Police Station EOW Kashmir.
- The probe followed a written complaint and an initial police enquiry that reported a roughly Rs 1.35 crore gap between vault cash and system ledger balances, after which the matter was transferred to the EOW for specialized investigation.