The Central Bureau of Investigation (CBI) has arrested two former bank officials in connection with a massive Rs 657 crore fraud involving the siphoning of funds from Haryana government accounts. Shamim Dar, the former Area Head of the Government Banking Group at IDFC First Bank, and Charanjeet Singh Randhawa, a former branch manager of AU Small Finance Bank, were taken into custody for allegedly facilitating fraudulent transactions.
Court Remands Accused to CBI Custody
On Tuesday, a Panchkula court sent both Dar and Randhawa to three-day CBI custody. The arrests come after a detailed investigation revealed systematic lapses and deliberate certifications that enabled the fraud.
Role of Shamim Dar in Account Openings
The CBI investigation established that the opening of government accounts at IDFC First Bank's Sector 32, Chandigarh branch was a sourcing-and-conversion exercise driven by the Government Banking Group team, of which Dar was a key member. He acted as the account-opening approver for multiple Haryana government accounts, including those of the Municipal Council Kalka, Municipal Corporation Panchkula, Haryana State Agricultural Marketing Board (HSAMB), Haryana State Pollution Control Board (HSPCB), HPGCL Employees' Pension Fund Trust, and the State Project Director of Haryana School Shiksha Pariyojna Parishad (HSSPP).
According to the CBI, Dar personally affixed certifications in the Account Opening Forms (AOFs) of these government accounts, stating that he had met the customer at their communication address, seen original KYC documents, and that the customer had signed in his presence. These certifications lent legitimacy to accounts that were subsequently operated through forged instruments.
Fraudulent Mobile Numbers Linked to Co-Accused
The CBI revealed that in several account-opening forms approved by Dar, the recorded mobile numbers did not belong to any government officer but to individuals under the control of the accused. In the case of HSPCB, the recorded mobile number belonged to Abhishek Singla, a co-accused and brother-in-law of the then relationship manager of IDFC First Bank, Abhay Kumar. All SMS alerts for 47 fraudulent debits totaling Rs 187.26 crore were delivered to Singla's phone.
Singla's mobile number was also mentioned in the second account of HSPCB. In the HSSPP case, Dar recommended a forged debit of Rs 2.49 crore for approval, describing it as a vendor payment to obtain higher-level approval for a fraudulent transaction.
Telephonic Approval and Cancelled Cheque Fraud
Dar also played a role in a Rs 10 crore cancelled-cheque debit from the HSAMB account. He communicated with an authorized signatory and furnished material that enabled a backdated change of authorized signatory in a key account. The CBI noted that 14 fraudulent transactions were made from the account of the Director, Panchayat, MMGAY 2.0, to M/s Swastik Desh Projects, a shell entity floated by the accused, at AU Small Finance Bank. Each transaction was effected using forged debit notes or cheques bearing the forged signature of DK Behera, Director General, Panchayat.
Charanjeet Randhawa's Involvement
Charanjeet Randhawa, the Mohali branch manager of AU Small Finance Bank, is implicated in 10 of the 14 debits, having approved fraud amounting to Rs 47.51 crore from this account. In three instances, he acted as an authorizer, and in eight, he performed or recorded the mandatory call-back confirmation with the customer. The call-back confirmation is mandatory for high-value debits. The mobile number on which these confirmations were obtained was not in use by any genuine signatory of the department but was being operated by co-accused Naresh Kumar, whose voice has been identified in the bank's call recordings, according to the CBI.
Rs 25 Crore Fraudulent Transaction
A fraudulent debit transaction of Rs 25 crore occurred on December 29, 2025, involving a cheque from the HPGCL Pension Funds Trust. Randhawa acted as an authorizer and gave the call confirmation, which does not appear in the Call Detail Record of the authorized signatory. The money was transferred to the shell company M/s Swastik Desh Projects.
The CBI continues to investigate the case, which has exposed significant loopholes in the banking system's handling of government accounts.
