Chaibasa: Three people were arrested for allegedly fraudulently withdrawing Rs 1.58 crore from the bank account of Kolhan University in Jharkhand's West Singhbhum district, police said.

A case was registered in the Mufassil police station on February 19 based on the statement of the varsity's vice-chancellor, SP Ashutosh Shekhar said.

A special investigation team (SIT) was constituted to probe the case, and investigators went to Odisha, West Bengal and Chhattisgarh, besides other districts of the state such as Ramgarh, Ranchi and Bokaro for searches, he said.

During the course of the investigation, three people were arrested.

Those arrested were identified as Dhananjay Kumar Prajapati (35) of Ramgarh district, Sanjay Kumar (35) who is an assistant manager of ESAF Bank in Ranchi and Amrita Sharma (26) who is an employee of Yes Bank in Bokaro district, the SP said.

The SIT contacted various banks in Jharkhand and other states, and was able to freeze an amount of Rs 93,00,000 of the total Rs 1.58 crore, he said.

The investigation was continuing, he said, noting that more details would be shared later.