Nirma University staffer booked for ₹5 cr embezzlement through fake NEFT refunds, 6 others named in FIR

The Sola High Court police have registered an FIR against a staff member of Nirma University for allegedly siphoning off more than ₹5 crore from student activity accounts over two years by forging NEFT refund documents and routing the money into his own bank accounts and those of six associates.

According to the FIR filed by Associate Professor Nikunj Ramnikbhai Patel, the accused, Prakash Ranjitbhai Thakor, who had been appointed in 2018 to manage financial documentation for three student activity accounts, systematically forged refund slips meant for book reimbursements and diverted the funds for personal gain.

The complaint

In his statement, Patel, 45, who has been with the Institute of Management at Nirma University for a decade, said that the Student Activity Association maintains three financial accounts at the Kalupur Cooperative Bank’s Nirma University branch. These accounts are used for cultural, sports and academic activities, and for refunding students for books purchased during the academic year.

Thakor’s role involved preparing NEFT letters, filling in bank account details, and obtaining signatures from authorised committee members for processing payments. Patel stated that faculty members trusted Thakor to prepare accurate documents and often signed the NEFT letters he placed before them.

Discovery of fraud

The fraud came to light on 10 September 2025, when Thakor failed to appear for the annual audit of the 2024–25 accounts. When questioned the following day, Thakor allegedly confessed that he had diverted money from the student accounts to meet his “personal financial needs”.

According to Patel’s FIR, Thakor admitted that whenever he required funds, he would:

Prepare fake NEFT lists by writing the names of students eligible for book refunds.

Insert his own bank account numbers, as well as those of his friends and relatives, against the student names.

 Present these forged documents to authorised faculty members, who signed them in good faith.

Deposit the NEFT letters to the bank and have the funds transferred to the accounts of himself and his associates.

Pay “commission” to the associates who allowed their accounts to be used, and retain the remaining amount.

 Named co-accused

Six individuals who allegedly permitted their accounts to be used and received commissions have been named as co-accused:

1. Niketan

2. Harshil Lahiri

3. Nandkishore

4. Mahesh Chhakha

5. Jainam Veera

6. Rohit Vikrambhai Thakor

The FIR states that these individuals also brought in additional acquaintances’ bank accounts for the purpose of receiving fraudulent refund transfers.

Extent of embezzlement

A detailed scrutiny of the three student activity accounts showed the following unauthorised transfers:

₹46.20 lakh between 24 April 2023 and 31 March 2024

 ₹4,39 Crore between 1 April 2024 and 31 March 2025

₹14,62 lakh between 1 April 2025 and 1 May 2025

In total, ₹5 Crore was allegedly diverted into the accounts of Thakor and his associates. Thakor is reported to have used three primary bank accounts for receiving the funds, including one at Kalupur Cooperative Bank and two at HDFC Bank.

Police action

The FIR, lodged under sections related to cheating, forgery, breach of trust and criminal conspiracy, was registered at Sola High Court Police Station.  The complaint notes that further individuals may be named as suspects if additional evidence emerges during the investigation.