The accused was identified as Devdutt Musale. He was booked under Sections 408 (criminal breach of trust by servant), 468 (forgery for purpose of cheating), 471 (using forged document as genuine) and 420 (cheating) of the Indian Penal Code (IPC). The complaint was registered by Amrendra Krishnnandan Singh of India Infoline. According to the police, the alleged illicit transaction of shares took place at the India Infoline office in Kothrud between April and November. &ldquo;Musale had allegedly transferred almost 15,000 shares of two private companies to his demat account with another share brokerage firm, Sharekhan, by forging the documents of some shareholders,&rdquo; Police Inspector Kalyanrao Vidhate of the Kothrud police station said. He said the total worth of the shares transferred to Musale&rsquo;s demat account was approximately Rs 1.25 crore and the police were still investigating whether there were more such transactions. Home loan fraud In another case, officials of the Wanvadi police station booked two men for withdrawing Rs 55 lakh by submitting bogus documents for a home loan. The accused were identified as Anil Ram Kulchandra of Brahma Suncity in Vadgaonsheri and Sandip Wamanrao Kshirsagar alias Babalu Purushottam Kale (25) of Magarpatta City in Hadapsar. The police said the incident took place between January and August. Both were booked under Sections 420 (cheating), 467 (forgery), 471 (using forged document as genuine) and 34 (common intention) of the IPC. &ldquo;These two had first applied for a home loan with the Central Bank of India&rsquo;s Hadapsar branch with all forged documents, and after the bank verification a loan of Rs 55 lakh was sanctioned to them,&rdquo; Assistant Police Inspector Prasad Sanas of the Wanwadi police station said. &ldquo;The bank had issued the demand draft of the amount to them and it was in favour of the builder, but the duo went ahead and opened an account in the name of the builder by forging the documents and cashed the whole amount.&rdquo;u00a0

Officials of the Kothrud police station have registered a case against a relationship manager of a share brokerage firm, India Infoline, for duping the company of Rs 1.25 crore by transferring shares of its customers to his account with forged documents

Employee booked for duping brokerage firm of Rs 1.25 cr

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Employee booked for duping brokerage firm of Rs 1.25 cr

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