CBI Registers FIR in Rs 550 Crore Haryana Government Account Fraud
The Central Bureau of Investigation (CBI) has registered a First Information Report (FIR) in connection with an alleged Rs 550 crore fraud from Haryana government accounts held with IDFC Bank's branch in Chandigarh.
Background of the Case
The Haryana government handed over the probe to the CBI, and the Department of Personnel and Training sent the referral on Wednesday. The State Vigilance and Anti-Corruption Bureau had earlier investigated the case.
Allegations and Evidence
- Fraudulent Banking Operations: The State Vigilance and Anti-Corruption Bureau alleged that the case pertains to "fraudulent banking operations and fictitious transactions allegedly undertaken in a systematic manner to siphon off Government funds into the accounts of shell entities."
- Diversion of Funds: Preliminary findings indicate that large sums were routed through shell companies and small jewellery firms, and then siphoned off under the guise of gold purchases and real estate investments, according to officials cited by news agency PTI.
- Arrests and Investigations: Several entities are named in the case, including Swastik Desh Project, SRR Planning Gurus Pvt Ltd, Cap Co Fintech Services, and R.S. Traders. The state vigilance agency has already arrested multiple people, including two former employees of the IDFC Bank and several private individuals linked to a partnership firm.
- Role of Other Entities: Investigators are also examining the role of a Chandigarh-based hotelier involved in real estate projects in the Tricity region, as well as another financial institution.
Response from IDFC First Bank
IDFC First Bank had said it has paid out 100 per cent of the principal and interest to the relevant departments of the Haryana government, which works out to Rs 583 crore.
"The bank remains committed to working together with the relevant Haryana Government departments and the law enforcement agencies to pursue actions against the perpetrators of the fraud and looks forward to recovering our dues," IDFC First Bank said in a regulatory filing.