According to the EOW, the refunds were made following a swift and time-bound investigation into the alleged fraud, providing relief to the affected depositors.
The case pertains to FIR No. 30/2025, registered under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act following a complaint regarding financial irregularities at the bank’s Shopian branch.
The investigation was subsequently transferred to Crime Branch J&K on the directions of Police Headquarters (PHQ), J&K, for a detailed probe.
During the investigation, the EOW identified five principal accused, including former branch managers and employees of HDFC Bank posted at Shopian and Pulwama. All five were arrested on February 18, 2026.
After completing the investigation, the EOW filed a chargesheet against 11 accused persons before the Court of the Chief Judicial Magistrate, Shopian, in May 2026.
The criminal proceedings are continuing before the competent court.
The EOW said it remains committed to taking the case to its logical conclusion and ensuring that all accused are dealt with strictly in accordance with law.
