- CBI arrested two banking officials for alleged Rs 504-crore fund diversion in Haryana case
- Officials included former IDFC First Bank area head and AU Small Finance branch manager
- Fraud involved forged fixed deposits and debit notes siphoning Haryana government funds
The Central Bureau of Investigation has arrested two banking officials, including a former area head of IDFC First Bank and a former branch manager of AU Small Finance Bank, for their alleged involvement in a Rs 504-crore fund-diversion case linked to Haryana government departments.
The arrested officials have been identified as Shamim Dar, then area head of IDFC First Bank, and Charanjeet Singh Randhawa, then branch manager of AU Small Finance Bank's Mohali branch.
The arrests followed the collection of evidence by the agency, which pointed to their alleged involvement in facilitating account openings and enabling fraudulent transactions that led to the diversion of public funds.
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According to the CBI, the alleged fraud took place at IDFC First Bank's Sector 32 branch in Chandigarh, where surplus funds belonging to eight Haryana government departments were allegedly siphoned off through forged or non-existent fixed deposits and debit notes.
The diverted funds were subsequently routed through shell entities, the agency said. The CBI took over the probe from the Haryana State Vigilance and Anti-Corruption Bureau following a request from the state government.
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So far, the agency has filed chargesheets against 17 accused in the case, including six bank officials from IDFC First Bank and AU Small Finance Bank, three Haryana government officials, two companies, and six private individuals.
Separately, the CBI has also filed chargesheets in two other cases related to Chandigarh Smart City and CREST Chandigarh after taking over investigations from the Union Territory administration. The agency said it remains committed to tracing the complete trail of misappropriated public funds and bringing those responsible to justice.
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