The Central Bureau of Investigation (CBI) has intensified its probe into the alleged misappropriation of Rs 661 crore linked to IDFC First Bank and AU Finance Bank, carrying out searches at six locations across Chandigarh, Panchkula, and the Delhi-NCR region.
The action forms part of an expanding investigation into the alleged diversion of government funds belonging to multiple departments in Haryana and Chandigarh. The case centres on accusations of criminal conspiracy, financial misconduct, and the siphoning of public money through a network involving bank officials, government functionaries, and private entities.
Senior public servants among those searched
According to officials, the searches targeted premises linked to senior Haryana cadre public servants as well as M/s. Vipam Consultancy Pvt. Ltd. and its director.
The operation was aimed at gathering evidence connected to alleged irregularities in the handling of government funds and tracing the movement of suspected proceeds generated through the fraud.
During the searches, officials seized documents, digital devices, property-related records and other materials considered relevant to the investigation.
Alleged collusion under scrutiny
The agency’s findings so far indicate that certain public servants allegedly worked in coordination with bank officials to facilitate the opening of accounts, movement of funds and their subsequent diversion.
The probe has also focused on allegations that these officials received undue benefits in return for enabling transactions or failing to act despite apparent irregularities.
Officials further claimed that M/s. Vipam Consultancy Pvt. Ltd. received funds allegedly linked to the fraud, which were later transferred into the personal account of the company’s director.
Rs 661 crore fraud spread across 10 departments
The alleged scam affected eight departments of the Haryana government, along with two Chandigarh institutions: the Municipal Corporation Chandigarh and CREST Chandigarh.
According to the CBI, the fraud involved the unauthorised diversion of government money parked in accounts maintained with IDFC First Bank and AU Finance Bank.
The agency is examining the entire chain of transactions to determine how the funds were moved and who benefited from the alleged scheme.
Cases taken over from Haryana, Chandigarh agencies
The CBI entered the investigation after taking over one case from the Haryana State Vigilance and Anti-Corruption Bureau and two cases originally registered by the Economic Offences Police Station in Chandigarh.
Following the takeover, the central agency began a detailed examination of financial records, departmental transactions and the role of individuals linked to the movement of public funds.
Chargesheet already filed
The agency has already submitted its first chargesheet before the CBI Court in Panchkula.
The chargesheet reportedly details the alleged role of officials associated with Haryana Power Generation Corporation Ltd. and Haryana School Shiksha Pariyojna Parishad, while also outlining the methods allegedly used to siphon off government funds.
Officials indicated that investigations in all three linked cases remain active and additional action is expected against others found connected to the alleged fraud.
The agency is continuing to analyse financial trails, electronic evidence and transaction records, with another chargesheet expected to be filed as the probe progresses.