Vadodara: A former senior executive at Baroda Global Shared Services Ltd (BGSSL), stationed at the Alkapuri branch of Bank of Baroda (BOB), allegedly embezzled ₹2.92 crore by transferring funds from the bank’s ledger account to another account over a span of 28 days last year. A case has now been registered at the Sayajiganj police station in connection with the fraud.

BGSSL, headquartered in Mumbai, handles the recruitment, allocation, and monitoring of personnel for BOB’s head office under a formal agreement. Its Vadodara office, located in Suraj Plaza, employs around 111 people and manages outsourced banking operations based on specific terms and conditions.

The accused, Mrugesh Chandrakant Bhatt, a resident of Saindham Society in Khodiyar Nagar, had been employed with BGSSL since November 7, 2011. He was assigned to BOB’s Internet Payment Gateway Department and was responsible for online data entry and uploading daily banking transactions into settlement files at BGSSL’s Alkapuri sub-branch. He earned a monthly salary of ₹25,598.

Mrugesh allegedly abused his position by making fraudulent entries in BOB’s general ledger account. Between July 7 and July 30 last year, he reportedly transferred ₹3.94 crore into bank accounts held by him and his parents.

After the irregularities were discovered, BOB’s outsourcing agency launched an internal inquiry on July 31. Mrugesh returned ₹1.02 crore through three cheques, but ₹2.92 crore remains unrecovered. Following failed recovery efforts, the Vice President of BGSSL filed a formal police complaint against him.