NAGPUR – The Anti-Corruption Branch of the Central Bureau of Investigation (CBI) in Nagpur has registered a criminal case against Anupam Kumar, the former Chief Manager of Bank of India’s Itwari Branch, for allegedly receiving over ₹43.42 lakh in “undue advantages” from various firms. The FIR, registered on March 24, 2026, follows a detailed investigation into allegations that Kumar misused his official position to fund personal stock market investments.
The Allegations and Modus Operandi
The CBI investigation covers the period from February 2024 to March 2025. According to the FIR, Anupam Kumar (Employee ID 175795) received illicit payments from at least ten different entities that maintained Cash Credit (CC) or Overdraft (OD) accounts at his branch.
The agency alleges that Kumar exploited his role as the sanctioning authority to allow unauthorized Temporary Overdraft (TOD) and Total Outstandings (TOL) transactions in violation of bank guidelines. In some instances, he reportedly misled borrowers into transferring funds on “compassionate grounds” or moved money without written mandates, funneling the proceeds into his personal savings account at Union Bank of India, Yavatmal.
Stock Market Investments
The misappropriated funds were allegedly utilized for personal gain through the Zerodha brokerage platform. In addition to the primary ₹43.42 lakh identified, the CBI is scrutinizing two other high-value receipts: ₹15 lakhs from M/s Sonia Collection and ₹31.70 lakhs from M/s G.G. Garments, both suspected to be part of the same fraudulent scheme.
Firms Involved in Illicit Transactions
The CBI detailed several transactions from various entities that were credited to Kumar’s personal account :
More Read
- M/s Maa Vishahari Trailer Services: ₹10,40,000
- M/s Anant Rai and Sons: ₹7,00,000
- Sidhartha Trading Company: ₹7,50,000
- Raghunath Sudhir Daftari: ₹5,00,000
- Swastik Plastics: ₹4,00,000
- Gurukripa Collections: ₹2,92,000
Legal Action and Suspension
The case has been registered under Section 11 of the Prevention of Corruption Act, 1988 (as amended in 2018), which deals with public servants obtaining undue advantage without proper consideration.
Formal permission to investigate under Section 17A of the Act was granted by Ranvir Singh, General Manager (HR) and the Competent Authority at Bank of India, who noted that a prima facie case of criminal intent was evident. Kumar has been under suspension since May 7, 2025.
The investigation has been entrusted to Brajesh Kumar, Additional Superintendent of Police, CBI ACB, Nagpur.
