Making headway in forgery of over Rs 16.40 crore surfaced in Axis Bank’s Dunda branch in Raipur, the city police on Sunday claimed to have recovered cash worth Rs 38 lakh in the case and started the process for holding around Rs 98 lakh in separate accounts.

“In connection with the Axis Bank forgery case, Raipur Police managed to recover cash worth Rs 35 lakh more in the case taking the seizure amount to over Rs 1.22 crore. Moreover, the probing team has initiated the process for holding Rs 98 lakh available in a separate account,” said Additional Superintendent of Police (Crime) Abhishek Maheshwari.

Separate teams of Raipur Police are currently camping in Delhi, Mumbai, Gujarat, Bengaluru and other states to nab the people indulged in the massive forgery, added the ASP.

It may be recalled that Raipur Police have already arrested seven persons, including the manager of Axis Bank’s Dunda Branch, in the case and recovered cash to the tune of over Rs 84.95 lakh from them. The accused persons have allegedly siphoned the massive amount from the account of Chhattisgarh Rajya Krishi Mandi Board through fraudulent means. Investigation revealed that the accused persons in connivance with the bank manager allegedly managed to get a cheque book of the board’s account issued through fraudulent means. By misusing the issued cheques, the accused persons have allegedly siphoned the amount through RTGS and transactions.