The Central Bureau of Investigation (CBI) arrested Saurav Sharma, a data entry operator with the Haryana State Pollution Control Board (HSPCB), on Tuesday for his alleged role in a bank fraud that siphoned off Rs 169.36 crore. A Panchkula court sent him to four-day CBI custody on Wednesday.
Role in the Fraud
According to the CBI, Sharma conspired with accused bank officials and facilitated investments in private banks in violation of rules, causing a loss of Rs 169.36 crore. He was aware of investment limits and instructions from the Finance Department regarding public funds but still processed investments favoring IDFC First Bank and AU Small Finance Bank.
The fraud is part of a larger Rs 657-crore bank scam involving officials from IDFC First Bank, AU Small Finance Bank, and Haryana government officials, including IAS officers. The Enforcement Directorate (ED), also investigating the case, estimates the total fraud at Rs 645 crore.
Details of Transactions
Sharma enabled a deposit exceeding Rs 50 crore in IDFC First Bank on March 18, 2025, resulting in Rs 67.9 crore parked there. He then processed an additional Rs 37.78 crore investment, bringing the total to Rs 105.68 crore, despite a Rs 50 crore limit. On October 1, 2025, he processed another Rs 8 crore investment, raising the total to Rs 113.68 crore.
From March 13, 2025, to February 13, 2026, fraudulent debit transactions siphoned Rs 187.26 crore to various entities, including shell companies. Credit transactions of Rs 17.90 crore reduced the net loss to Rs 169.36 crore.
Communication and Evidence
The CBI found that Sharma maintained regular and unauthorized communication with representatives of private banks, sharing confidential information on investment proposals, fund maturity, rates quoted by other banks, and file movements. This helped the banks prepare their proposals. After investments were made, funds were siphoned to shell companies.
Sharma allegedly received pecuniary benefits from co-accused individuals already arrested in the case. During the investigation, his mobile phone was seized, but original communication was missing or deleted. The CBI told the court that custodial interrogation is necessary to recover deleted data, passwords, and connected devices.
