Navi Mumbai Accountant Accused of Diverting ₹40.58 Lakh From Construction Firm Using Fake Bills
Navi Mumbai: A suspected financial fraud involving a construction company has come to light in Navi Mumbai, where an accountant allegedly diverted ₹40.58 lakh from the firm’s accounts by creating duplicate vendor bills, forging signatures and routing company payments into the bank accounts of four associates.
The Khandeshwar police have registered a case against accountant Balkrishna Dhadambe and four other individuals — Rishikesh Hanumant R., Abhishek Popat Chavan, Aniket Vilas Kadam and Aniket Nanasa Patole. According to the police, all five accused are currently absconding and efforts are being made to trace them.
The alleged fraud was uncovered after a genuine vendor noticed something unusual in his tax records. Rituraj Singh, whose company was a regular vendor of the construction firm, contacted the company’s marketing manager, Atriprasad Dubey, after discovering that TDS had been deposited in his name, even though his company had not carried out any work for the construction firm during the period in question.
The unexpected TDS entry prompted the company to examine its financial records more closely. During the internal verification, the accounts department reportedly discovered that bills had been prepared using the names of genuine vendors, but the payments had not actually been authorised by the company’s owner.
Investigators also found that the suspicious bills carried two fake stamps, apparently intended to make the documents look genuine and give the impression that the payments had gone through the company’s regular approval process.
The company then examined its bank statements and Tally accounting records to determine where the money had actually gone. One of the suspicious transactions was reportedly traced to the bank account of Rishikesh Hanumant R., one of the individuals named in the police complaint.
Following this discovery, the company carried out a wider review of vendor-related payments made between January and December 2025. According to the complaint, the scrutiny revealed 34 transactions between February 5 and December 31, 2025, involving a total of approximately ₹40.58 lakh.
Police allege that the accountant misused the names of the company’s genuine vendors to prepare duplicate bills and then diverted the corresponding payments to the bank accounts of four associates.
The complaint further alleges that signatures of vendor proprietors were forged on the documents. Cheques from the company’s cheque book were allegedly used to transfer money to the accounts linked to the accused individuals.
Investigators also suspect that the alleged transactions were deliberately concealed through accounting entries. According to the complaint, false entries were made in the company’s Tally ledger so that the payments would appear to be legitimate business expenses.
The alleged scheme reportedly went unnoticed for some time because the transactions were made using the identities and details of vendors who were already associated with the company. The discovery of the unexplained TDS payment eventually prompted the company to compare its vendor records, bills, bank transactions and accounting entries.
After identifying the suspected irregularities, the company initiated a detailed audit through a chartered accountant. Police have indicated that the amount involved could rise once the audit of the company’s financial records is completed.
The case has been registered on allegations including cheating and misappropriation of funds. The police are now working to trace the accountant and his four alleged associates and establish the complete flow of the money.
The investigation is still underway, and the allegations against the accused are yet to be established in court. Police said that all five accused remain absconding as efforts continue to locate them.
The case highlights how fraudulent invoices, forged approvals and manipulated accounting records can potentially be used to conceal unauthorised financial transactions within a business. The ongoing audit is expected to provide a clearer picture of the full extent of the alleged fraud and whether any additional transactions were involved.
News source: Information for this article was gathered from a variety of reliable news outlets.
