Srinagar, February 18 – The Crime Branch of the Jammu and Kashmir Police announced on Wednesday that it had apprehended five employees in connection with the HDFC Bank fraud case, following searches conducted in the Budgam and Shopian districts.
The Economic Offences Wing (EOW) of the Crime Branch Kashmir stated in a press release, "The EOW of the Crime Branch J&K is conducting searches in the districts of Shopian and Budgam in connection with case FIR No. 30/2025, registered under the relevant provisions of the Bharatiya Nyaya Sanhita and the IT Act at Police Station EOW Kashmir, Crime Branch J&K."
The matter came to light following a written complaint regarding large-scale financial fraud at the HDFC Bank Branch Unit in Shopian.
"In compliance with the directions of PHQ J&K, the case was transferred from Police Station Shopian to the Crime Branch J&K for a comprehensive investigation. In connection with the case, five bank employees have been arrested so far. The arrested employees are: Adil Ayoub Ganai, son of Mohammad Ayoub Ganai, a resident of Memendar, Shopian, currently residing in Hamza Colony, Baghat-e-Kanipora, Nowgam; Irfan Majeed Zargar, son of Abdul Majeed Zargar, a resident of Sheikh Mohalla, Bonigam, Shopian; Mubashir Hussain Sheikh, son of Ghulam Mohammad Sheikh, a resident of Karena, Kulgam; Zaid Manzoor, son of Manzoor Ahmad Din, a resident of Dagerpora, Khannabal, Anantnag, and Javaid Ahmad Bhat, son of Abdul Rahim Bhat, a resident of Below Rajpora, Pulwama," the police stated.
The statement mentioned that searches are currently underway at multiple locations in Shopian and Budgam to collect material evidence in the case.
"The Economic Offences Wing, Kashmir, will continue to pursue all lawful measures to safeguard financial integrity," the statement added.
The J&K Police and security forces have been conducting anti-terrorist operations in the union territory, targeting terrorists, their overground workers (OGWs) and sympathizers.
Drug smugglers, drug peddlers, and those involved in hawala money rackets and other financial frauds are also under the scrutiny of the security forces.
It is believed that the funds generated by these unlawful activities are ultimately used to sustain terrorism in J&K.