Ex-Kotak Bank Deputy VP bought luxury cars with siphoned funds

The news is about a man named Pushpinder Singh who used to work at a big bank called Kotak Mahindra Bank.

The police say he stole a huge amount of money - over 100 crore rupees - from a city government office in Panchkula, a city in Haryana, India.

They say he and some helpers made fake bank accounts using the city office's name and forged letters.

Then they moved the city's real money into these fake accounts and changed the account phone numbers and emails so the bank would not notice.

The man reportedly used the stolen money to buy very expensive things, like a Porsche, several BMWs, a Jeep, a Land Cruiser and a Harley-Davidson motorcycle.

Police also say some money was used for fancy watches, furniture, and giving out high-interest loans.

When people started to investigate, the man sold some of the cars and a property to try to hide what happened.

The Enforcement Directorate, a special government investigation team, says it has frozen or taken back assets worth about 131 crore rupees.

The man was arrested in June 2026, and a court case has now begun.

It is up to the court to decide if he is really guilty.