Sumit Sharma
Jammu: Scores of customers of M/S Shri Ram Finance Ltd. have lost their hard-earned money after two employees of the company allegedly embezzled lakhs of rupees collected as loan installments.
Official sources revealed that the accused, Vicky Parihar, son of Anoop Singh from Sonabathi, Palmar Doda, and Sawanjit Singh, son of Ajay Kumar from Lotna, Palmar, Kishtwar, were employed as Relationship Executives (R.E.) at M/S Shri Ram Finance Ltd., located on the first floor of Ravi Complex, Kunjwani Bypass, Jammu. They were responsible for collecting loan installments from customers but allegedly failed to deposit the collected amount with the company.
The fraud came to light after multiple customers raised complaints, claiming they had submitted their installments to the accused, but the payments were not reflected in their loan accounts.
Upon internal investigation, the finance company discovered that the accused had issued fake receipts in the company’s name while pocketing the money.
Following the victims’ outcry, the company’s Branch Manager, Pankaj Sharma, approached the court, leading to an order from the Learned Judicial Magistrate 1st Class, Munsiff Jammu, directing the SHO of Gangyal Police Station to lodge an FIR against the accused. Acting on the court’s directions, police registered an FIR No. 26/2025 under sections 303, 315, 318, 340, and 351 of the Bharatiya Nyaya Sanhita (BNS).
Police have launched a manhunt to arrest the accused. Further investigations are underway to determine the total amount embezzled and to identify any additional victims of the scam.
