Non-banking financial firm defrauded of Rs 12.84 crore; five arrested including bank staff

A non-banking financial firm has been defrauded of Rs 12.84 crore in what appears to be an organised scheme. Police have arrested five persons in connection with the case, including staff members from a bank.

The fraud came to light during an investigation into the company's financial irregularities. Authorities are examining the modus operandi and the roles played by the accused individuals in orchestrating the scam.