Court Rejects Bail in Rs 83-Crore Fraud Case
A Chandigarh court dismissed the bail application of Sahil Kukkar, former accountant of the Chandigarh Renewable Energy & Science and Technology Promotion Society (CREST), on June 22, 2026. Kukkar is accused in a scam involving fraudulent transactions of over Rs 83 crore linked to IDFC First Bank accounts.
Background of the Case
The FIR was initially registered by Chandigarh Police on March 12, 2026, concerning large-scale fraud through fictitious banking operations to divert government funds to shell entities, allegedly in collusion with bank officials and public servants. The case was later transferred to the Central Bureau of Investigation (CBI).
Arguments of the Defence
Counsel for the accused argued that Kukkar was falsely implicated. They stated that he was arrested on March 31 and had been in custody since. The defence highlighted that Kukkar was not named in the original FIR and that his name surfaced only during the investigation. They contended that no specific role was attributed to him, as he was merely a contractual accountant, not a director or key managerial person, and lacked authority to sanction or release funds.
Prosecution's Allegations
Public prosecutor Jai Hind Patel, representing the CBI, opposed the bail application, alleging Kukkar's active involvement in the conspiracy. Patel stated that Kukkar's mobile number was registered with all three CREST bank accounts for receiving SMS alerts. As the accountant during the relevant period, Kukkar was responsible for supervising financial affairs, scrutinizing transactions, and maintaining records. The CBI also claimed that hotel bills of Rs 2,91,000 for Kukkar's personal trip to Rajasthan were allegedly paid by bank officer Ribhav Rishi from the account of CAPCO Fintech Services.
Court's Decision
After hearing both sides, the court dismissed the bail application. Counsels Shiti Jain Dutt, Pawan Dogra, and Satpreet Singh appeared for IDFC First Bank.
