Pimpri Chinchwad: Two employees from Shree Balaji Society Educational Institution in Tathawade have been accused of embezzling ₹3 crore from the institution’s account.

The Wakad Police Station has registered a case against the accused following a complaint lodged by Paramanandan Balasubramanian, 48, a resident of Kalyani Nagar, Pune.

According to the police, the accused, identified as Parandhaman Balasubramanian (51) and Nikhil Natwar Agarwal (34), misused their authority within the institution. 

Between October 11, 2019, and April 6, 2021, they systematically withdrew funds amounting to ₹2,99,41,524 using blank cheques obtained from the institution’s current account.

These withdrawals were made under various pretenses, but the funds were never utilized for the institution’s intended purposes.

The fraudulent activities came to light when discrepancies were noticed in the institution's financial records. Further investigation revealed that the accused had colluded to siphon off the funds over a period of nearly two years.

The institution’s management discovered that the accused had exploited their positions of trust to access blank cheques and withdraw the funds for personal gain.

Paramanandan Balasubramanian, who filed the complaint, stated that the funds were not used for any organizational needs, highlighting a clear case of embezzlement. 

Following the complaint, the Wakad Police have registered a case under relevant sections of the law, and an in-depth investigation is underway to trace the embezzled funds.