Axis Bank accused of issuing same series of cheques to two companies - India News and Travel Times Provides India-centric and other News and Features

A private investment group on Wednesday claimed to have suffered a huge loss due to the acute apathy of Axis Bank which provided the cheques of same serial numbers to it and also to the TTK group. Addressing the media here, Managing Director of Group, Roopesh Verma said: "We noticed that the Bangalore branch of Axis Bank had issued same number / series of 'at par' account cheques to TTK group and Sri Omsainath Group." Verma also claimed that even after holding meetings with the Bank's senior officials nothing fruitful came out During the conference, Verma also distributed some copies of cheques and his company's correspondence with the Axis bank to substantiate his allegations with 'proof'. He also said the Group has filed a detailed complaint with the Bank Ombudsman over the apathy of the Axis Bank "Now after our 'Banglore experience,' we told the Axis Bank officially not to clear any cheques issued by us, unless they have verified the same from our Mumbai head office," he said. Verma also alleged that even after requesting for cross examination the bank went on bouncing the cheques issued by the Group. He also ensured that the investment made by the clients is safe and maintained the Group is not one of those fly-by-night financial institutions that are notorious for wheeling-dealing. Earlier, in November, the Sri Omsainath Investment Group blamed the Bank for issuing of duplicate cheques that eventually bounced. Verma had also displayed two different cheques of exactly same number but issued to two different people from the Bank. Verma has also demanded a full-fledged inquiry into the matter.