Vadodara: Sama Police have registered a cheating and forgery case against a former Axis Bank sales manager for allegedly duping a 61-year-old retired man of Rs. 5 lakh by misusing his trust and forging documents in the name of an investment scheme.

The complainant, Niranjan Mehta (61), a resident of the Sama Canal Road area, is a retired employee of a pharmaceutical company and currently works at a general store. During his employment at a pharmaceutical company, his salary account was maintained at the Axis Bank branch in Sama, where he came into contact with then-sales manager Jayesh Limbabhai Parmar.

According to the complaint, after Mehta’s retirement, his provident fund and gratuity were credited to the same account. Parmar allegedly persuaded him to invest in fixed deposits and the Bajaj Allianz pension scheme, assuring him that he personally assisted senior citizens and even visited their homes to complete banking formalities.

Police said Mehta invested Rs. 5 lakh each in four fixed deposits on October 18, 2022, based on Parmar’s advice.

The complaint alleges that in January 2023, Parmar convinced Mehta to prematurely close one of the fixed deposits and invest the amount in a new scheme. He allegedly obtained a signed cheque for Rs. 5 lakh from the elderly customer for this purpose.

Instead of creating a new fixed deposit, Parmar allegedly submitted a forged RTGS form at the Axis Bank’s Fortune Gateway branch near Chhani Jakatnaka. Police said he forged Mehta’s signature on the form and transferred Rs. 5 lakh to an HDFC Bank account belonging to his friend, Sujitsinh Gohil.

Investigators alleged that Parmar later collected the money from his friend and used it for his personal expenses.

The fraud came to light towards the end of 2025, when Mehta visited the bank to verify details of his pension scheme and fixed deposits. During the inquiry, he found that no new fixed deposit had been created using the Rs. 5 lakh cheque. Instead, the amount had been transferred through RTGS to a third-party bank account.

Following the complaint, Sama Police have registered a case against Jayeshkumar Limbabhai Parmar, a resident of Chhani Canal Road and originally from Thasra in Kheda district. Further investigation is underway. DeshGujarat