Chandigarh: The Haryana government has recommended a Central Bureau of Investigation (CBI) inquiry into an alleged ₹590 crore financial fraud linked to accounts in IDFC First Bank and AU Small Finance Bank, officials said on Tuesday.
The case, which is currently being investigated by the State Vigilance and Anti-Corruption Bureau (SV&ACB), involves suspected embezzlement of funds from multiple government departments. Authorities revealed that money from at least eight departments, spread across 12 bank accounts, was allegedly siphoned off through fraudulent means.
According to investigators, ten of these accounts were maintained with IDFC First Bank, while the remaining two were held with AU Small Finance Bank. So far, 15 individuals have been arrested in connection with the case.
The alleged scam came to light after irregularities were detected in financial transactions linked to the Chandigarh Administration, prompting a detailed probe by both Haryana authorities and Chandigarh Police.
Preliminary findings suggest that the main accused created a network of shell companies to divert public funds. Entities such as RS Traders, Cap Co Fitech Services, SRR Planning Gurus Pvt Ltd, and Swastik Desh Project were allegedly used to channel money into various accounts controlled directly or indirectly by the accused and their associates.
Investigators have also uncovered evidence of manipulation of banking documents, including the use of forged debit memos to facilitate illegal fund transfers. These methods enabled the accused to move money across multiple layers, making detection more difficult.
A First Information Report (FIR) was registered on February 23 at the SV&ACB police station in Panchkula under provisions of the Prevention of Corruption Act and relevant sections of the Bharatiya Nyaya Sanhita.
With the case now recommended for a Central Bureau of Investigation probe, officials expect a deeper examination into the financial trail and possible involvement of additional individuals or entities.
