Justice R. Mahadevan wondered how banks could allow such frauds to take place and ordered notice to the bank. He permitted CPT to issue private notice to the bank besides filing a petition to implead Central Bureau of Investigation (CBI) to the writ petition since it appeared that both the port trust as well as the bank had lodged complaints with the bureau over the fraud. The excess funds were parked in fixed deposits. Making things worse, CPT received a cheque book from the bank on May 15, 2020 bearing a current account number in the name of Chennai Port Trust General Insurance Fund. On May 20, 2020, the bank, on its part, informed CPT about an internal inquiry having been ordered and the port trust, in turn, chose to lodge a complaint with the CBI on May 21, 2020.

Source: The Hindu June 03, 2021 15:40 UTC