Bizman Alleges ₹2 Lakh Wrongly Debited By HDFC

(MENAFN- Kashmir Observer) Srinagar- A Kashmir-based businessman has alleged that ₹2 lakh was illegally withdrawn from his HDFC Bank account and transferred to the account of a judicial magistrate in Tamil Nadu, raising serious concerns over procedural lapses by the private bank.

Irfan Ahmad Bhat, Managing Director of Modern Sweets and Confectioners in Srinagar, said the money was debited from his company's account at HDFC Bank's Hari Singh High Street branch in the first week of May, while he was out of the country.

“I received no prior intimation or consent request from the bank. I only came to know about the transaction after my return,” Bhat told PTI.

According to Bhat, bank officials informed him that a man named Manikandan had approached a court in Coimbatore, alleging he had been duped into transferring ₹2 lakh to Bhat's account for investment purposes. Based on that claim, a court purportedly issued an order for the amount to be reversed from Bhat's account.

However, Bhat claims he never received any such amount and has repeatedly sought a copy of the court order from the bank - without success.“At first, they said it was a mistake and would be sorted out. Now they're telling me to track my money myself. This is unacceptable,” he said.

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He questioned how the bank could comply with a court order without verifying if the disputed amount had ever been credited to his account.“Had they checked, they would've found no such transaction. Yet they debited the money,” he said.

Adding to the confusion, Bhat said that Manikandan - the petitioner in the case - is listed as an accused in the same case on the Coimbatore District Court's website.

HDFC Bank's branch manager in Srinagar, Adil Shah, said he had merely complied with a court order.“If the customer is aggrieved, he can approach the court in Coimbatore,” Shah said.

Bhat said he also raised the issue with senior officials at HDFC, but got no relief. A spokesperson from HDFC Bank's corporate communications department confirmed that the matter has been flagged and is being looked into.“Our team has raised the concern with all stakeholders and relevant authorities,” the official said.

The incident has triggered fresh concerns around the safeguards in place for account holders, especially in cases where bank actions are taken without verifying the legitimacy of claims or notifying the customer. Bhat has indicated he may explore legal action if the issue is not resolved promptly.

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