The Central Bureau of Investigation (CBI) on Thursday filed its first chargesheet, spanning approximately 10,000 pages, in the multi-crore fraud case involving the siphoning of government funds from IDFC First Bank and AU Small Finance Bank. The chargesheet was submitted before Special CBI Judge Vijayant Sehgal in Chandigarh, accompanied by annexures and supporting documents packed in eight steel trunks.
Court Proceedings and Scrutiny
The court has directed its staff to meticulously examine the records and submit a formal report on the documents. According to sources, the chargesheet names 15 accused individuals, many of whom were initially arrested by the Haryana State Vigilance and Anti-Corruption Bureau starting February 23. The filing was time-sensitive, as some accused were approaching 90 days in custody on May 23, after which they would have become eligible for default bail.
Key Accused Named
Those charged include key officials from the Chandigarh branches of IDFC First Bank and AU Small Finance Bank, former employees of the Haryana Development and Panchayat Department and the Haryana Power Generation Corporation Limited, as well as private individuals, including the owner of Sawan Jewellers and builder Vikram Wadhwa.
Investigation Intensifies
The CBI has intensified its probe into the role of senior bureaucracy. Haryana government sources confirmed that prosecution sanctions have been granted against eight Indian Administrative Service (IAS) officers — five approved last week and three earlier this week. CBI teams reportedly questioned two officers separately over the last 48 hours.
Revised Fraud Amount
Originally estimated at Rs 504 crore, the alleged misappropriation has been revised upward to nearly Rs 593 crore. Investigators suspect that funds were diverted through a criminal conspiracy between bank officials and public servants. The accused face charges including criminal conspiracy, breach of trust, cheating, forgery, and violations of the Prevention of Corruption Act.
Parallel Probe by Enforcement Directorate
Meanwhile, the Enforcement Directorate (ED) is conducting a parallel investigation into shell companies used to launder the proceeds of the fraud. On Thursday, the court remanded accused Rishav Rishi and Abhay Kumar to judicial custody following the completion of their 10-day ED remand.
