Fundraising employee claims to have lost Rs 41 lakh


More than a week after an employee of a cash management company claimed to have lost Rs 41 lakh after a road accident, police have yet to make a breakthrough.

Raju A, an employee of CMS Info Systems Ltd at HBR Layout, collected money from customers of different banks and was about to deposit the sum when he encountered the accident. The company’s HBR Layout branch manager, Shanthakumar HG, filed a complaint with the Shivajinagar Police over the incident.

Raju was tasked with collecting money from customers of different banks in Cunningham Road, Infantry Road, Richmond Road and other locations. The amount he collected amounted to Rs 41,23,992. Raju was on his way to collect money from other customers.

In the afternoon, Raju called Shanthakumar to inform him that he had had an accident near CSI Hospital on Bamboo Bazar Road in Shivajinagar and had lost the money he had collected. Upon inquiring about the accident and how he lost the money, Shanthakumar and the company were unhappy with Raju’s explanation, the manager said in his complaint.

The plaintiff suspected Raju of pocketing the money and cheating the company.

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When DH contacted Shanthakumar for the company’s reaction, which said the complaint had been filed with the police and the investigation was still at the preliminary stage. The company claimed that the police did not question its employees.

The company also denied suggestions of a security breach on their end, while not responding to a question about how an employee could be dispatched to collect a large sum of cash from their private vehicle without armed security. .

Mentioning that the investigation is still in its preliminary stage, Shivajinagar Police said they are conducting a survey among employees of the company. “We haven’t made a breakthrough yet and we can’t reveal anything more,” a senior officer said.

RBI guidelines state that cash management companies should have customized vehicles to transport cash and that two or three employees should be present in the vehicle. Apart from an armed guard, the vehicle used for transporting cash must also be equipped with a burglar alarm and CCTV cameras.

The police and the cash management company refuse to say whether all of these measures were in place when Raju collected the customers’ money.


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