Court Remands Retired IAS Officer to CBI Custody in Major Bank Fraud Case
A Panchkula court on July 1 sent retired IAS officer Pardeep Kumar to two-day CBI custody after his arrest on June 30 in connection with a Rs 657-crore bank scam. Kumar, who retired on the same day of his arrest, was produced before the court following his apprehension by the Central Bureau of Investigation (CBI).
Alleged Role in Rs 169 Crore HSPCB Fraud
According to the CBI, Kumar's involvement pertains to his tenure as Member Secretary of the Haryana State Pollution Control Board (HSPCB). During this period, a fraud of Rs 169 crore was committed from the board’s account maintained at IDFC First Bank. This fraud is part of the larger Rs 657-crore scam, where funds were siphoned from accounts of eight Haryana government departments and two departments of the Chandigarh Administration.
Irregularities in Fixed Deposit Investments
The CBI stated that Kumar personally handled all investment-related work at his level. Funds meant for fixed deposits were sent to IDFC First Bank far exceeding prescribed limits. To create these fixed deposits, HSPCB funds were first transferred into an account opened at IDFC First Bank. However, the department could not produce any records regarding the opening of this account. The CBI added, “The conspiracy was so deep that the account got opened without any approvals and funds were transferred into the account in the name of creating fixed deposits.”
Fraudulent Transactions and Misappropriation
The investigation revealed that no fixed deposits were actually created at the bank. Instead, fraudulent debit transactions were carried out from this account, leading to the misappropriation of government funds. The CBI claimed that this was the largest financial loss suffered by any of the affected government departments in Haryana in the overall scam.
Previous Suspension and Arrest
Earlier, the Haryana Government had suspended Kumar on April 8. His arrest on June 30 and subsequent CBI custody mark a significant development in the ongoing investigation into the Rs 657-crore bank scam.
