India, March 23 -- The RCF police in Chembur have registered a case of theft following a complaint from public-sector undertaking (PSU) Rashtriya Chemicals and Fertilizers (RCF), a government-owned firm and leading manufacturer of fertilisers and industrial chemicals. The company reported the theft of 62 cheques with a cumulative withdrawal limit of Rs.31 crore after detecting suspicious transactions.

According to RCF, its accounts department flagged certain suspicious cheque transactions. Upon investigation, it was discovered that 62 cheques had been stolen. The fraud came to light when Mahesh Rana, an employee in RCF's cash department, noticed a cheque of Rs.48.50 lakh deposited on December 23 at the Malwani branch of Kotak Mahindra Ba...